The ITIL 7 Guiding Principles are the most practical part of ITIL. Following them you will create bigger value for all stakeholders involved in your organisation. The ITIL Guiding Principles provide guidance, encourage decision making and promote continual improvement.
ITIL provides the Service Value Chain to identify the Value Streams. Once an organisation has defined its Value Streams, it is easy to follow activities and practices accordingly. It recognizes the stakeholders involved and the activities required to transform needs into something valuable.
ITIL (Information Technology Infrastructure Library) is a set of specialized organizational capabilities to enable customer value in the form of services. The ITIL processes address various aspects of IT service management.