In Chapter 2 of LS, it places great importance on ensuring that startup managers understand the terms most relevant to their company. The terms are Institution, Product, and Uncertainty. How does LS define these terms?

Question 1:

In Chapter 2 of LS, it places great importance on ensuring that startup managers understand the terms most relevant to their company. The terms are Institution, Product, and Uncertainty. How does LS define these terms?

• Source: https://startupsusa.org/what-is-entrepreneurship/