However, the advent of modern technologies such as the Internet and the dependence of an increasing number of operations on information systems has slowly led to the understanding that the strategy adopted for information systems can have a profound impact on the deliverance of the business strategy (Brancheau & Wetherbe, 2005). In other words, it has become essential for people involved with business to express their vision for information systems in a clear manner and also highlight their expectations in a clear fashion. Moreover, people engaged in the development and maintenance of these information systems must also specify the deliverables and capabilities of these systems and the extent to which they will be able to fulfill the needs of the business in a qualitative manner.
Despite these advances in technology and its related strategy, business and technology seem worlds apart and seem unrelated to the average individual. However, any businessman or manager, who has an intuitive understanding of the operational requirements of a business will be clear to identify their needs, but will seldom be able to communicate them in a clear manner. On the other hand, professionals involved with information systems will be able to determine the capabilities of their systems, but will be unable to associate them within the strategic fit of a modern business organization (Michael Havey, 2005).
To help narrow this gap between the two entities, the concept of business model ontology has been developed, which can work towards achieving a better fit due to several reasons. Ontology helps in the modeling of social systems such as business environments and requirements and helps identify the relevant elements under individual domains and the inherent relationships that exist between them. Such business models also help by serving as further units for analysis (Gordijn, Akkermans and Vliet, 2006).