Purpose–The paper aims: 1) To develop systematically a structural list of various business model process configuration and to group (deductively) these selected configurations in a structured typological categorization list. 2) To facilitate companies in the process of BM innovation, by developing (inductively) an ontological classification framework, in view of the BM process configurations typology developed.

Design/methodology/approach–Given the inconsistencies found in the business model studies (eg definitions, configurations, classifications) we adopted the analytical induction method of data analysis.

Findings-A comprehensive literature review and analysis resulted in a list of business model process configurations systematically organized under five classification groups, namely, revenue model; value proposition; value configuration; target customers, and strategic partnerships. Based on the list of configurations developed, and the five classification categories chosen, a business model ontology was developed followed by three testable propositions, aimed at facilitating companies in selecting the most applicable business model process configurations, based on their own strategic preference, as part of their business model innovation activity planned.

Practical implications–This paper aimed at strengthening researchers and, particularly, practitioner’s perspectives into the field of business model process configurations. By insuring an [abstracted] alignment between the five classification categories chosen by us to map various configurations, and the ontology developed, practitioners will be better equipped to design, evaluate, implement, and innovate their business models.