1) The document discusses the importance of innovation, opportunity, and calculated risk-taking for business creation. It emphasizes that innovation stems from creativity but must be pushed further to become realized innovations.
2) Key factors in identifying opportunities include understanding clear and unclear demand and supply situations. Opportunities can be found by recognizing existing situations, discovering latent needs, seeking opportunities through creating new solutions, products, or approaches.
3) Radical innovation that changes existing business models or creates new revenue streams is advocated for, alongside smaller innovations to improve and adaptations to maintain competitiveness. Identifying high value adding business functions and imagining solutions from a customer perspective can enable innovation.