Which of the following is not a component of the ITIL 4 service value system?

The correct choice indicates that the "Thank you model" is not a component of the ITIL 4 service value system. The ITIL 4 framework is specifically designed to provide a comprehensive approach to service management, and it includes several key components that contribute to the overall service value system.

The Service Value Chain is a core element of ITIL 4, representing the various activities that an organization undertakes to deliver valuable products and services to its customers. It essentially outlines how different activities interconnect to create value.

Practices in ITIL 4 refer to the capabilities and resources that organizations use to manage services effectively. They include processes, methodologies, and tools that contribute to the service management lifecycle.

Governance is another critical component of the service value system, ensuring that organizational policies and processes align with business strategy, thus providing guidance and control over service delivery and operations.

In contrast, the "Thank you model" does not pertain to any established standards, terminology, or frameworks within ITIL 4 or service management, making it the option that does not fit within the ITIL 4 service value system. This differentiation highlights the importance of familiarizing oneself with the official ITIL 4 components to understand the service management landscape effectively.