In the past 20 years, researchers have significantly advanced various management fields by examining organizational phenomena through a configurational lens, including competitive strategies, corporate governance mechanisms, and innovation systems. Qualitative comparative analysis (QCA) has emerged as a primary method for empirically investigating organizational configurations. However, QCA has traditionally struggled to capture the temporal aspects of configurational phenomena. In this paper, we present configurational comparative process analysis (C2PA), which merges QCA with sequence analysis. We introduce the concept of configurational themes—recognizable temporal patterns of recurring combinations of explanatory conditions—to identify and track the temporal dynamics among these phenomena. We also outline configurational matching—a method for empirically identifying these themes by distinguishing theme-defining from theme-supporting conditions. C2PA allows researchers to explore the temporal dynamics of configurational phenomena, such as their stability, emergence, and decline at critical junctures. We illustrate the application of C2PA through a study of shareholder value orientation and discuss its potential for addressing key questions in management research.