Final answer:
Strategic management concepts applied to the innovation process are called strategic entrepreneurship. This method helps businesses align innovations with their long-term goals for sustained competitive advantage. Therefore, the correct option is A.
Step-by-step explanation:
Applying concepts from strategic management to the innovation process is known as strategic entrepreneurship. This approach integrates the forward-thinking vision and innovative capabilities of an entrepreneur with the strategic planning and management required to align innovation with the company's long-term goals. By focusing on strategic entrepreneurship, companies can achieve sustainability and competitive advantage through continuous improvement and creative strategies in the business landscape.