Aligning firm’s value system and open innovation: a new framework of business process management beyond the business model innovation Bisan Abdulkader Department of Economics and Business, Central European University, Budapest, Hungary Domitilla Magni Department of Business Studies, RomaTre University, Rome, Italy Valentina Cillo Link Campus University, Rome, Italy Armando Papa Faculty of Business and Economics, Universitas Mercatorum, Rome, Italy, and Roberto Micera National Research Council (CNR), Institute for Studies in the Mediterranean (ISMed), Naples, Italy Abstract Purpose – Business process management (BPM) supports the creation and capture of firm value. In a dynamic context, the current approach to BPM appears to be limited and static in the face of the challenges posed by the firm’s open innovation (OI) ecosystem. The main purpose of this paper is to shed light on the value co-creation through the integration of OI principles and mechanisms of value system. Design/methodology/approach – To this aim, the paper suggested a conceptual integration of strategy and operations literature on OI and the firm’s value creation system. This analysis adopted BPM lenses with specific attention to the alignment between value creation and value capture. Applying BPM lenses to the process of creating shared value sought the attainment of a comprehensive system of decisions articulated between strategy and operations. Findings – The paper pinpoints key links between strategy models and operational planning, thus proposing a new framework that integrates the characteristics of value system and OI. The paper elaborates a new theoretical framework rooted in the extant literature conducted in BPM, business strategy and business model innovation (BMI) fields. Originality/value – This paper aims to fill the gap in the literature in which strategy models are separately treated from the operational ones. This conceptual effort contributes to the extant literature by drawing upon a comprehensive frameworkand mapping the complex set of interactions between the firm’s value chain and its innovation ecosystem. Keywords Business process management, Value system, Open innovation ecosystem, Business model, Business process management innovation Paper type Conceptual paper 1. Introduction Business process management (BPM) is a system of business activities synergically interconnected with each other to optimize and integrate business processes, achieve a competitive advantage and create and distribute value (Trkman, 2010; Vom Brocke and Sinnl, 2011; Jeston and Nelis, 2014; Rosemann and vom Brocke, 2015). Although BPM is Business process management The current issue and full text archive of this journal is available on Emerald Insight at: https://www.emerald.com/insight/1463-7154.htm Received 22 May 2020 Revised 8 August 2020 Accepted 13 August 2020 Business Process Management Journal © Emerald Publishing Limited 1463-7154 DOI 10.1108/BPMJ-05-2020-0231