The document discusses the three main elements involved in the entrepreneurial process: the entrepreneur, the environment, and the opportunity. It defines the entrepreneurial process as all functions and actions related to perceiving and pursuing opportunities. The three key elements are the entrepreneur's intention, the environment where the firm will operate, and the business opportunity itself. The entrepreneurial intention model, which considers perceived desirability, social norms, knowledge, and feasibility, is cited as the most important predictor of an individual engaging in firm creation.