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Ontology-driven Business Modelling: Improving the Conceptual Representation of the REA Ontology

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  • F. GAILLY
  • G. POELS

Abstract

Business modelling research is increasingly interested in exploring how domain ontologies can be used as reference models for business models. The Resource Event Agent (REA) ontology is a primary candidate for the ontology-driven modelling of business processes because the REA point of view on business reality is close to the conceptual modelling perspective on business models. In this paper Ontology Engineering principles are employed to restructure REA in order to make it more suitable for ontology-driven business modelling. The redesigned conceptual representation of REA uses a single representation formalism, includes a more complete domain axiomatization (containing definitions of concepts, concept relations and ontological axioms), and is proposed as a meta-model to instantiate valid business models.

Suggested Citation

  • F. Gailly & G. Poels, 2007. "Ontology-driven Business Modelling: Improving the Conceptual Representation of the REA Ontology," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 07/444, Ghent University, Faculty of Economics and Business Administration.
    • Handle: RePEc:rug:rugwps:07/444
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    File URL: http://wps-feb.ugent.be/Papers/wp_07_444.pdf
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    1. F. Gailly & G. Poels, 2007. "Towards Ontology-driven Information Systems: Redesign and Formalization of the REA Ontology," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 07/445, Ghent University, Faculty of Economics and Business Administration.
    2. Yair Wand & Ron Weber, 2002. "Research Commentary: Information Systems and Conceptual Modeling—A Research Agenda," Information Systems Research, INFORMS, vol. 13(4), pages 363-376, December.
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    1. F. Gailly & G. Poels, 2007. "Towards Ontology-driven Information Systems: Redesign and Formalization of the REA Ontology," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 07/445, Ghent University, Faculty of Economics and Business Administration.
    2. Henry M. Kim & Marek Laskowski, 2018. "Toward an ontology‐driven blockchain design for supply‐chain provenance," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 25(1), pages 18-27, January.
    3. Enrique BONSON-PONTE & Ioan ANDONE & Adrian LUPASC & Ioana LUPASC, 2010. "The Need to Adapt to New Financial Accounting Technologies Information in the Context of Global Economic Crisis," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 2, pages 71-78.
    4. Heravi, Bahareh Rahmanzadeh & Lycett, Mark & de Cesare, Sergio, 2014. "Ontology-based standards development: Application of OntoStanD to ebXML business process specification schema," International Journal of Accounting Information Systems, Elsevier, vol. 15(3), pages 275-297.
    5. Weigand, Hans & Elsas, Philip, 2012. "Model-based auditing using REA," International Journal of Accounting Information Systems, Elsevier, vol. 13(3), pages 287-310.

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