This paper explores how two dimensions of corporate purpose orientation, sense of belonging and sense of intention, and two dimensions of corporate purpose execution, explicitness and ingraining, combined with family ownership, lead to business model innovation, in terms of value creation, value capture, value delivery, and green innovation. Based on an inductive qualitative comparative analysis of a final sample of 19 Italian firms, it contributes to the literature to the strategy management literature with a set of propositions regarding corporate purpose, business model innovation, and family firms.