Recently, the development of new and emerging business models has opened many new business opportunities and changed the nature of competition in electronic commerce. With the current challenges of implementing business models, the importance of business model assessment has been widely recognized. Nevertheless, there is relatively little research towards evaluation of business model which allows the organizations to innovate their internal business process and exploit business opportunities. The objective of this paper is to provide a better understanding of how business model competencies can be monitored and evaluated. To investigate this, we conceptualize business model competency and develop a model of the business model competency assessment based on the work of Di Valentin et al.(2012), and test it in the Internet portal service contexts.