A virtual machine supports execution of compiler-generated code and provides an execution environment for code that may correspond to any of several different event-driven or message-driven programming models (such as state machines, rules for complex event processing and event correlation, monitoring contexts, processes, and mediations). The programming models may be used in business monitoring and/or business integration environments. A programming language is defined for execution using the virtual machine, which contains a relatively small number of instructions and which is preferably generated by a compiler from a higher-level, event-driven or message-driven model.