2. Entrepreneurship
▪ Entrepreneurship is defined as the recognition of opportunities (needs, wants, problems, and challenges) and the use or creation of resources to implement innovative ideas for new, thoughtfully planned ventures.
3. Strategy
▪ Strategy is the central, integrated, externally-oriented concept of how an organization will achieve its objectives.
▪ Strategic management is the body of knowledge that answers questions about the development and implementation of good strategies.