Enterprise ontology serves as a foundational framework for semantically comprehending the nature of organizations and the essential components that uphold their integrity. The systematic and conceptual understanding of organizations has garnered significant attention from researchers due to its pivotal role in various domains, including business modeling, enterprise architecture, business process management, context-aware systems, application development, interoperability across diverse systems and platforms, knowledge management, organizational learning and innovation, and conflict resolution within organizations. Achieving a consensus on the concepts related to the fundamental elements that constitute an organization is therefore critical. This study aims to conduct a comprehensive analysis and comparison of existing conceptual models of enterprises as documented in scholarly articles published over the past decade. We discuss the strengths and weaknesses of each model and introduce a robust framework for their evaluation. To facilitate this evaluation, we propose several pertinent criteria derived from established methodologies for assessing ontologies. Furthermore, we identify contemporary challenges and issues that have been overlooked in prior studies, offering insights and suggestions for future research directions in enterprise modeling. This article ultimately presents a roadmap for enhancing the systematic understanding of organizations through refined enterprise ontology frameworks.