Representing immaterial value in business model

Business Models are formal descriptions representing the components of the business implemented by a company. This provides a strong support in deriving strategic requirements, such as for instance conditions of profitability, that are essential to monitor the operative level. But a strong limitation is that the quantification of the values determining the economical requirements of a model can be represented only by single scalar quantities. This approach precludes the possibility to represent the influences among different assets, and, in some sense, rule out the relational nature of business. This is particularly evident when immaterial values should be represented. In this paper we propose a solution to the representation of immaterial and interrelated values based on the notion of correlation among quantities. The proposed solution is implemented by extending the specification of the e3value model. The new approach allows to use correlation analysis in order to derive the conditions of profitability on a market, and to better control the state of achievement of business goals.