Business value requires functionality which requires code. I don't think business value necessarily requires functionality. Business value is generated by code

Business value requires functionality which requires code. I don't think business value necessarily requires functionality. Business value is generated by code operating inside a specific business process. Only part of that process is software; the rest of it exists in the minds and the actions of the people interacting with the software. In some cases, it's easier to change the business process than it is to change the software.