When focusing on value, the first step is to know who are the customers and key stakeholders being served.
Next, it is important to have an understanding of what consitutes value from the consumer's perspective.
https://www.bmc.com/blogs/itil-guiding-principles/#:~:text=When%20focusing%20on%20value%2C%20the, value%20from%20the%20consumer's%20perspective.

Reference: https://www.thinkhdi.com/library/supportworld/2019/evolution-itil-new-operating-model-itil-4.
aspx

The organizations and people dimension sets out the people aspects of service management to be considered when designing, operating and changing service offerings. People include employees, managers, executives, customers, supplier employees, or anybody else who is involved in the creation or consumption of services.
https://assyst.ifs.com/blog/itil4-organizations-and-people#:~:text=The%20organizations%20and%20people%
20dimension%20sets%20out%20the%20people%20aspects,creation%20or%20consumption%20of%
20services.