1. A computationally efficient system for developing a set of business process definitions sharing the common business intent as a business process family using model driven techniques, the said system comprising: a network; and a host system in communication with the network, the said host system having processor configured to execute programmed instructions for: a) specifying a business process family as an extension of essential BPMN meta model; b) viewing a business process definition as a set of connecting objects which connect a set of flow objects exchanging data objects using the said essential BPMN meta model; c) capturing a process structure for specifying concrete business processes using essential BPMN meta model; d) enabling an activity to be specified as a placeholder and making another process to fit in via orchestration or choreography by using essential BPMN meta model; e) defining a BPMN meta model to support a business process family concept, comprises of i. describing the business process family by using a process structure, wherein the Process structure is defined by set of activities and events; ii. essentially specifying each template by using BPMN meta model; iii. introducing a placeholder to support two kinds of variability with respect to composition and integration, wherein the placeholder comprises of an Event activity or an Abstract Activity; iv. defining composition or integration of a process part at the placeholder by using a map, wherein the map comprises of an event map or an activity map v. introducing a configuration structure to describe entire configuration context in terms of the parts that can be fitted at placeholders; vi. specifying multiple placeholders and a set of candidate processes for each placeholders to enables modelling of the business process family; and f) Integrating at least one business process definition from the business process family and at least one technology platform to create an executable business process.