Abstract. The paper provides a conceptual framework for designing and executing business processes using semantic Web services. We envision a world in which a designer defines a “virtual“ Web service as part of a business process, while requiring the system to look for actual Web services that match the specifications of the designer and can be invoked whenever the virtual Web service is activated. We take a conceptual modeling approach, identifying the interrelationships between ontology concepts and syntactic Web services. We then propose a generic algorithm for ranking top-K Web services in a decreasing order of their benefit vis-´a-vis the semantic Web service. We conclude with a discussion on extending the proposed model to handle uncertainty as a result of concept mismatch and the desired properties of a schema matching algorithm to support Web service identification.