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The paper focuses on enterprise business value chain modeling as an alternative to business process modeling. Well known REA methodology proposed by McCarthy and Geerts is used as the basic modeling framework. The research presented in the paper results in a generic semantic enterprise model using REA ontology. This rather static model is then converted into UML activity, sequence and state diagrams thus achieving dynamic view of the REA model. The dynamic REA view connects the process model and the value chain perspectives. It is shown that by using REA model transition called dynamization not only process models at task level can be achieved but also a consistency check of the REA model can be accomplished.
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