Knowledge can be represented by ontology. In an enterprise context, they reflect the relevant knowledge based on enterprise-specific concepts and their relations. In order to develop ontology, there are various methodologies, where each one may have some pitfalls depending on context .In this paper, based on an analysis of existing methodologies, we explore the possibilities by proposing an integrated model for developing ontology, which can be used to build any kind of ontology. Our main intention is to reduce development time and effort. We had proposed the system with respect to shopping mall domain, where dynamically ontologies can be prepared to get the information faster and correct. Further, these ontologies can be used for mapping. We compare our model with the existing developing methodology, and we had tried to remove the possible pitfalls of the existing techniques .
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