THE FOUR C’S THEORY
A more realistic, representative theory is referred to as the “ensemble approach to entrepreneurship” The thesis of this point of view is that both the individual and the environment are considered to be components of the entrepreneurial process. Chapter 7 examined the role of the individual in the process and established a model of the entrepreneur in action. It related the various skills and traits of the entrepreneur to the resulting action or procedure. Tropman and Morningstar12 expand on the concept by an adaptation of the Peters and Waterman13 “7S-System” in which four categories define entrepreneurship; these are the Characteristics, Competencies, Conditions, and Contexts.