This paper suggests a schema for business model research that has the potential to progress the research, in a structured manner, from conceptual to theoretical. It draws on the scientific and business research literature to identify the types of research necessary to further knowledge and promotes the inductive-deductive model of research. The importance of conducting empirical research to evaluate current conceptualisations of business models and developing a theory of business models is stressed.

An important aspect of any research agenda is the creation of a general classification of domain objects that can serve a wide range of current and future uses. Classification literature relating to the biological, behavioural, organisational and social sciences has been referenced in this paper in support of this claim. Existing classifications of business models are evaluated, determining that the only classifications that have been proposed to date are typologies and that no general taxonomy of business models currently exists.