Final answer:
The ITIL® Service Value System component described is the Service Value Chain, an operating model for activities that deliver value through IT-enabled services.
Step-by-step explanation:
The component of the ITIL® Service Value System (SVS) referred to in the question is the Service Value Chain. This model is an operating model that includes a set of interconnected activities that an organization performs to respond to demand from its customers and stakeholders, and to facilitate value creation through IT-enabled services.
The ITIL Service Value Chain consists of six key activities: Plan, Improve, Engage, Design & Transition, Obtain/Build, and Deliver & Support, all of which work together to ensure that the services provided by the organization are aligned with strategic goals and that continual improvement is a central focus.