130-578: The Boston Natural Areas Network (BNAN) was a non-profit organization based in Boston , in the U.S. state of Massachusetts founded in 1977 , which worked to identify and protect significant natural areas described as urban wilds and greenways in the metropolitan area. After 7 years of being an affiliate of The Trustees of Reservations , in December 2014 BNAN officially merged with the Trustees, and became part of
260-423: A business is known as "entrepreneurship". The entrepreneur is commonly seen as an innovator , a source of new ideas, goods , services, and business/or procedures. More narrow definitions have described entrepreneurship as the process of designing, launching and running a new business, often similar to a small business , or (per Business Dictionary ) as the "capacity and willingness to develop, organize and manage
390-658: A business owner who is affiliated with millennials (also known as Generation Y), those people born from approximately 1981 to 1996. The offspring of baby boomers and early Gen Xers , this generation was brought up using digital technology and mass media. Millennial business owners are well-equipped with knowledge of new technology and new business models and have a strong grasp of its business applications. There have been many breakthrough businesses that have come from millennial entrepreneurs, such as Mark Zuckerberg , who created Facebook. However, millennials are less likely to engage in entrepreneurship than prior generations. Some of
520-437: A business venture along with any of its risks to make a profit ". The people who create these businesses are often referred to as "entrepreneurs". In the field of economics, the term entrepreneur is used for an entity that has the ability to translate inventions or technologies into products and services. In this sense, entrepreneurship describes activities on the part of both established firms and new businesses. In
650-484: A cannon barrage for two hours, but their shot could not reach the colonists' cannons at such a height. The British gave up, boarded their ships, and sailed away. This has become known as " Evacuation Day ", which Boston still celebrates each year on March 17. After this, Washington was so impressed that he made Rufus Putnam his chief engineer. After the Revolution, Boston's long seafaring tradition helped make it one of
780-429: A college or university), science parks and non-governmental organizations, which include a range of organizations including not-for-profits, charities, foundations and business advocacy groups (e.g. Chambers of commerce ). Beginning in 2008, an annual " Global Entrepreneurship Week " event aimed at "exposing people to the benefits of entrepreneurship" and getting them to "participate in entrepreneurial-related activities"
910-406: A cultural authority and leverage it to create and sustain various cultural enterprises"; "tycoons", defined as "entrepreneurs who buil[d] substantial clout in the cultural sphere by forging synergies between their industrial, cultural, political, and philanthropic interests"; and "collective enterprises", organizations which may engage in cultural production for profit or not-for-profit purposes. In
1040-447: A focus on opportunities other than profit as well as practices, processes and purpose of entrepreneurship. Gümüsay suggests a three pillars model to explain religious entrepreneurship: The pillars are the entrepreneurial, socio-economic/ethical, and religio-spiritual in the pursuit of value, values, and the metaphysical . A feminist entrepreneur is an individual who applies feminist values and approaches through entrepreneurship, with
1170-529: A global leader in higher education and research and the largest biotechnology hub in the world. The city is also a national leader in scientific research, law, medicine, engineering, and business. With nearly 5,000 startup companies, the city is considered a global pioneer in innovation and entrepreneurship , and more recently in artificial intelligence . Boston's economy also includes finance , professional and business services, information technology , and government activities. Boston households provide
1300-416: A level of risk is a necessity. Fourth, the entrepreneurial process requires the organization of people and resources. An entrepreneur uses their time, energy, and resources to create value for others. They are rewarded for this effort monetarily and therefore both the consumer of the value created and the entrepreneur benefit. The entrepreneur is a factor in and the study of entrepreneurship reaches back to
1430-618: A lively port , and the then-town primarily engaged in shipping and fishing during its colonial days. Boston was a primary stop on a Caribbean trade route and imported large amounts of molasses, which led to the creation of Boston baked beans . Boston's economy stagnated in the decades prior to the Revolution. By the mid-18th century, New York City and Philadelphia had surpassed Boston in wealth. During this period, Boston encountered financial difficulties even as other cities in New England grew rapidly. The weather continuing boisterous
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#17328837275961560-459: A million residents, and the most densely populated state capital. Some 1.2 million persons may be within Boston's boundaries during work hours, and as many as 2 million during special events. This fluctuation of people is caused by hundreds of thousands of suburban residents who travel to the city for work, education, health care, and special events. Entrepreneurship Entrepreneurship
1690-468: A pair of bombs near the finish line of the Boston Marathon , killing three people and injuring roughly 264. The subsequent search for the bombers led to a lock-down of Boston and surrounding municipalities. The region showed solidarity during this time as symbolized by the slogan Boston Strong . In 2016, Boston briefly shouldered a bid as the U.S. applicant for the 2024 Summer Olympics . The bid
1820-491: A period of self-employment of one or more years; one in four may have engaged in self-employment for six or more years. Participating in a new business creation is a common activity among U.S. workers over the course of their careers". In recent years, entrepreneurship has been claimed as a major driver of economic growth in both the United States and Western Europe. Entrepreneurial activities differ substantially depending on
1950-527: A population of 675,647 as of the 2020 census , making it the third-largest city in the Northeast after New York City and Philadelphia . The larger Greater Boston metropolitan statistical area has a population of 4.9 million as of 2023, making it the largest in New England and the eleventh-largest in the country . Boston was founded on the Shawmut Peninsula in 1630 by Puritan settlers. The city
2080-410: A price system). In this treatment, the entrepreneur was an implied but unspecified actor, consistent with the concept of the entrepreneur being the agent of x-efficiency . For Schumpeter, the entrepreneur did not bear risk : the capitalist did. Schumpeter believed that the equilibrium was imperfect. Schumpeter (1934) demonstrated that the changing environment continuously provides new information about
2210-404: A profitable manner. But before such a venture is actually established, the opportunity is just a venture idea. In other words, the pursued opportunity is perceptual in nature, propped by the nascent entrepreneur's personal beliefs about the feasibility of the venturing outcomes the nascent entrepreneur seeks to achieve. Its prescience and value cannot be confirmed ex ante but only gradually, in
2340-547: A project to improve the historic West End neighborhood. Extensive demolition was met with strong public opposition, and thousands of families were displaced. The BRA continued implementing eminent domain projects, including the clearance of the vibrant Scollay Square area for construction of the modernist style Government Center . In 1965, the Columbia Point Health Center opened in the Dorchester neighborhood,
2470-511: A recent statistical analysis of U.S. census data shows that whites are more likely than Asians, African-Americans and Latinos to be self-employed in high prestige, lucrative industries. Religious entrepreneurship refers to both the use of entrepreneurship to pursue religious ends as well as how religion impacts entrepreneurial pursuits. While religion is a central topic in society, it is largely overlooked in entrepreneurship research. The inclusion of religion may transform entrepreneurship including
2600-527: A tendency towards risk-taking that makes them more likely to exploit business opportunities . "Entrepreneur" ( / ˌ ɒ̃ t r ə p r ə ˈ n ɜːr , - ˈ nj ʊər / , UK also /- p r ɛ -/ ) is a loanword from French. The word first appeared in the French dictionary entitled Dictionnaire Universel de Commerce compiled by Jacques des Bruslons and published in 1723. Especially in Britain,
2730-507: A theoretical standpoint is that they have to "rewire" these temporary ventures and modify them to suit the needs of new project opportunities that emerge. A project entrepreneur who used a certain approach and team for one project may have to modify the business model or team for a subsequent project. Project entrepreneurs are exposed repeatedly to problems and tasks typical of the entrepreneurial process. Indeed, project-based entrepreneurs face two critical challenges that invariably characterize
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#17328837275962860-494: A variety of organizations with different sizes, aims, and beliefs. For-profit entrepreneurs typically measure performance using business metrics like profit , revenues and increases in stock prices , but social entrepreneurs are either non-profits or blend for-profit goals with generating a positive "return to society" and therefore must use different metrics. Social entrepreneurship typically attempts to further broad social, cultural, and environmental goals often associated with
2990-401: A violent tornado , the city itself has experienced many tornado warnings . Damaging storms are more common to areas north, west, and northwest of the city. See or edit raw graph data . In 2020, Boston was estimated to have 691,531 residents living in 266,724 households —a 12% population increase over 2010. The city is the third-most densely populated large U.S. city of over half
3120-502: Is 2 °F (−17 °C) on December 30, 1917, while the record warm daily minimum is 83 °F (28 °C) on both August 2, 1975 and July 21, 2019. Boston averages 43.6 in (1,110 mm) of precipitation a year, with 49.2 in (125 cm) of snowfall per season. Most snowfall occurs from mid-November through early April, and snow is rare in May and October. There is also high year-to-year variability in snowfall; for instance,
3250-508: Is July, with a mean temperature of 74.1 °F (23.4 °C). The coldest month is January, with a mean temperature of 29.9 °F (−1.2 °C). Periods exceeding 90 °F (32 °C) in summer and below freezing in winter are not uncommon but tend to be fairly short, with about 13 and 25 days per year seeing each, respectively. Sub- 0 °F (−18 °C) readings usually occur every 3 to 5 years. The most recent sub- 0 °F (−18 °C) reading occurred on February 4, 2023, when
3380-540: Is an intellectual, technological, and political center. However, it has lost some important regional institutions, including the loss to mergers and acquisitions of local financial institutions such as FleetBoston Financial , which was acquired by Charlotte -based Bank of America in 2004. Boston-based department stores Jordan Marsh and Filene's have both merged into the New York City –based Macy's . The 1993 acquisition of The Boston Globe by The New York Times
3510-570: Is in Roxbury . Due north of the center we find the South End. This is not to be confused with South Boston which lies directly east from the South End. North of South Boston is East Boston and southwest of East Boston is the North End Unknown, A local colloquialism Boston has an area of 89.63 sq mi (232.1 km ). Of this area, 48.4 sq mi (125.4 km ), or 54%, of it
3640-410: Is land and 41.2 sq mi (106.7 km ), or 46%, of it is water. The city's elevation, as measured at Logan International Airport , is 19 ft (5.8 m) above sea level . The highest point in Boston is Bellevue Hill at 330 ft (100 m) above sea level, and the lowest point is at sea level. The city is adjacent to Boston Harbor , an arm of Massachusetts Bay , and by extension,
3770-423: Is largely responsible for long-term economic growth. The idea that entrepreneurship leads to economic growth is an interpretation of the residual in endogenous growth theory and as such continues to be debated in academic economics. An alternative description by Israel Kirzner (born 1930) suggests that the majority of innovations may be incremental improvements – such as the replacement of paper with plastic in
3900-432: Is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones. An entrepreneur ( French: [ɑ̃tʁəpʁənœʁ] ) is an individual who creates and/or invests in one or more businesses, bearing most of the risks and enjoying most of the rewards. The process of setting up
4030-509: Is the process by which either an individual or a team identifies a business opportunity and acquires and deploys the necessary resources required for its exploitation. In the early 19th century, the French economist Jean-Baptiste Say provided a broad definition of entrepreneurship, saying that it "shifts economic resources out of an area of lower and into an area of higher productivity and greater yield". Entrepreneurs create something new and unique—they change or transmute value. Regardless of
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4160-498: The Arbella ) and John Cotton (grandfather of Cotton Mather ) had emigrated to New England . The name of the English town ultimately derives from its patron saint, St. Botolph , in whose church John Cotton served as the rector until his emigration with Johnson. In early sources, Lincolnshire's Boston was known as "St. Botolph's town", later contracted to "Boston". Before this renaming,
4290-784: The American Revolution occurred in or near Boston. The then-town's mob presence, along with the colonists' growing lack of faith in either Britain or its Parliament , fostered a revolutionary spirit there. When the British parliament passed the Stamp Act in 1765, a Boston mob ravaged the homes of Andrew Oliver , the official tasked with enforcing the Act, and Thomas Hutchinson , then the Lieutenant Governor of Massachusetts. The British sent two regiments to Boston in 1768 in an attempt to quell
4420-566: The Boston Garden opening in 1928. Logan International Airport opened on September 8, 1923. Boston went into decline by the early to mid-20th century, as factories became old and obsolete and businesses moved out of the region for cheaper labor elsewhere. Boston responded by initiating various urban renewal projects, under the direction of the Boston Redevelopment Authority (BRA) established in 1957. In 1958, BRA initiated
4550-601: The Boston Public Library , Trinity Church, single-family homes and wooden/brick multi-family row houses. The South End Historic District is the largest surviving contiguous Victorian-era neighborhood in the US. The geography of downtown and South Boston was particularly affected by the Central Artery/Tunnel Project (which ran from 1991 to 2007, and was known unofficially as the " Big Dig "). That project removed
4680-682: The German Reich . However, proof of competence was not required to start a business. In 1935 and in 1953, greater proof of competence was reintroduced ( Großer Befähigungsnachweis Kuhlenbeck ), which required craftspeople to obtain a Meister apprentice-training certificate before being permitted to set up a new business. In the Ashanti Empire , successful entrepreneurs who accumulated large wealth and men as well as distinguished themselves through heroic deeds were awarded social and political recognition by being called "Abirempon" which means big men. By
4810-590: The Massachusetts Bay Colony and was signed by its first governor John Winthrop . Puritan ethics and their focus on education also influenced the early history of the city. America's first public school, Boston Latin School , was founded in Boston in 1635. Boston was the largest town in the Thirteen Colonies until Philadelphia outgrew it in the mid-18th century. Boston's oceanfront location made it
4940-527: The North End , and the Seaport . Boston is sometimes called a "city of neighborhoods" because of the profusion of diverse subsections. The city government's Office of Neighborhood Services has officially designated 23 neighborhoods: More than two-thirds of inner Boston's modern land area did not exist when the city was founded. Instead, it was created via the gradual filling in of the surrounding tidal areas over
5070-628: The South End , the West End , the Financial District , and Chinatown . After the Great Boston fire of 1872 , workers used building rubble as landfill along the downtown waterfront. During the mid-to-late 19th century, workers filled almost 600 acres (240 ha) of brackish Charles River marshlands west of Boston Common with gravel brought by rail from the hills of Needham Heights. The city annexed
5200-423: The voluntary sector in areas such as poverty alleviation, health care and community development . At times, profit-making social enterprises may be established to support the social or cultural goals of the organization but not as an end in itself. For example, an organization that aims to provide housing and employment to the homeless may operate a restaurant, both to raise money and to provide employment for
5330-440: The "cradle of political economy". Cantillon defined the term as a person who pays a certain price for a product and resells it at an uncertain price, "making decisions about obtaining and using the resources while consequently admitting the risk of enterprise". Cantillon considered the entrepreneur to be a risk taker who deliberately allocates resources to exploit opportunities to maximize the financial return. Cantillon emphasized
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5460-572: The 1930s and other Austrian economists such as Carl Menger , Ludwig von Mises and Friedrich von Hayek . According to Schumpeter, an entrepreneur is a person who is willing and able to convert a new idea or invention into a successful innovation . Entrepreneurship employs what Schumpeter called "the gale of creative destruction" to replace in whole or in part inferior innovations across markets and industries, simultaneously creating new products, including new business models . Extensions of Schumpeter's thesis about entrepreneurship have sought to describe
5590-412: The 1970s, the city's economy had begun to recover after 30 years of economic downturn. A large number of high-rises were constructed in the Financial District and in Boston's Back Bay during this period. This boom continued into the mid-1980s and resumed after a few pauses. Hospitals such as Massachusetts General Hospital , Beth Israel Deaconess Medical Center , and Brigham and Women's Hospital lead
5720-457: The 19th century, Boston's core neighborhoods had become enclaves of ethnically distinct immigrants with their residence yielding lasting cultural change. Italians became the largest inhabitants of the North End , Irish dominated South Boston and Charlestown , and Russian Jews lived in the West End . Irish and Italian immigrants brought with them Roman Catholicism. Currently, Catholics make up Boston's largest religious community, and
5850-622: The 2000s, story-telling has emerged as a field of study in cultural entrepreneurship. Some have argued that entrepreneurs should be considered "skilled cultural operators" that use stories to build legitimacy, and seize market opportunities and new capital. Others have concluded that we need to speak of a 'narrative turn' in cultural entrepreneurship research. The term "ethnic entrepreneurship" refers to self-employed business owners who belong to racial or ethnic minority groups in Europe and North America. A long tradition of academic research explores
5980-501: The 2000s, the term "entrepreneurship" has been extended to include a specific mindset resulting in entrepreneurial initiatives, e.g. in the form of social entrepreneurship , political entrepreneurship or knowledge entrepreneurship . According to Paul Reynolds, founder of the Global Entrepreneurship Monitor , "by the time they reach their retirement years, half of all working men in the United States probably have
6110-589: The 2000s, usage of the term "entrepreneurship" expanded to include how and why some individuals (or teams) identify opportunities, evaluate them as viable, and then decide to exploit them. The term has also been used to discuss how people might use these opportunities to develop new products or services, launch new firms or industries, and create wealth. The entrepreneurial process is uncertain because opportunities can only be identified after they have been exploited. Entrepreneurs exhibit positive biases towards finding new possibilities and seeing unmet market needs, and
6240-542: The 2010s, ethnic entrepreneurship has been studied in the case of Cuban business owners in Miami, Indian motel owners of the U.S. and Chinese business owners in Chinatowns across the U.S. While entrepreneurship offers these groups many opportunities for economic advancement, self-employment and business ownership in the U.S. remain unevenly distributed along racial/ethnic lines. Despite numerous success stories of Asian entrepreneurs,
6370-619: The 20th century: Horticultural Hall , the Tennis and Racquet Club , Isabella Stewart Gardner Museum , Fenway Studios , Jordan Hall , and the Boston Opera House . The Longfellow Bridge , built in 1906, was mentioned by Robert McCloskey in Make Way for Ducklings , describing its "salt and pepper shakers" feature. Fenway Park , home of the Boston Red Sox , opened in 1912, with
6500-533: The 21st century the governments of nation states have tried to promote entrepreneurship, as well as enterprise culture , in the hope that it would improve or stimulate economic growth and competition . After the end of supply-side economics , entrepreneurship was supposed to boost the economy. As an academic field, entrepreneurship accommodates different schools of thought. It has been studied within disciplines such as management, economics, sociology, and economic history. Some view entrepreneurship as allocated to
6630-575: The Atlantic Ocean. Boston is surrounded by the Greater Boston metropolitan region. It is bordered to the east by the town of Winthrop and the Boston Harbor Islands , to the northeast by the cities of Revere , Chelsea and Everett , to the north by the cities of Somerville and Cambridge , to the northwest by Watertown , to the west by the city of Newton and town of Brookline , to
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#17328837275966760-520: The Boston Natural Areas Fund, the organization was founded by a small group of citizens in response to a Boston Redevelopment Authority report titled Boston Urban Wilds. The report cited nearly 150 unprotected sites of natural beauty, undeveloped areas and under-developed areas, including community gardens, each of environmental significance, all of which faced encroachment form a rapid expansion in development taking place. Within five years,
6890-503: The Irish have played a major role in Boston politics since the early 20th century; prominent figures include the Kennedys , Tip O'Neill , and John F. Fitzgerald . Between 1631 and 1890, the city tripled its area through land reclamation by filling in marshes, mud flats, and gaps between wharves along the waterfront. Reclamation projects in the middle of the century created significant parts of
7020-563: The John Hancock Tower is the old John Hancock Building with its prominent illuminated beacon , the color of which forecasts the weather. Downtown and its immediate surroundings (including the Financial District, Government Center, and South Boston ) consist largely of low-rise masonry buildings – often federal style and Greek revival – interspersed with modern high-rises. Back Bay includes many prominent landmarks, such as
7150-551: The Native people, as many had died of European diseases brought by early settlers and traders. Archaeological excavations unearthed one of the oldest fishweirs in New England on Boylston Street , which Native people constructed as early as 7,000 years before European arrival in the Western Hemisphere. The first European to live in what would become Boston was a Cambridge -educated Anglican cleric named William Blaxton . He
7280-716: The Renew Boston Whole Building Incentive which reduces the cost of living in buildings that are deemed energy efficient. Under the Köppen climate classification , Boston has either a hot-summer humid continental climate (Köppen Dfa ) under the 0 °C (32.0 °F) isotherm or a humid subtropical climate (Köppen Cfa ) under the −3 °C (26.6 °F) isotherm. Summers are warm to hot and humid, while winters are cold and stormy, with occasional periods of heavy snow. Spring and fall are usually cool and mild, with varying conditions dependent on wind direction and
7410-536: The Trustees Boston Region. The Boston Natural Areas Network worked to preserve, expand and improve urban open space through community organizing, acquisition, ownership, programming, development and management of special kinds of urban land–urban wilds, greenways and community gardens. In all of its endeavors, BNAN was guided by local citizens advocating for their open spaces and assisting them to preserve and shape their communities. Originally named
7540-651: The act as an attempt to force them to accept the taxes established by the Townshend Acts . The act prompted the Boston Tea Party , where a group of angered Bostonians threw an entire shipment of tea sent by the East India Company into Boston Harbor . The Boston Tea Party was a key event leading up to the revolution, as the British government responded furiously with the Coercive Acts , demanding compensation for
7670-535: The adjacent towns of South Boston (1804), East Boston (1836), Roxbury (1868), Dorchester (including present-day Mattapan and a portion of South Boston ) (1870), Brighton (including present-day Allston ) (1874), West Roxbury (including present-day Jamaica Plain and Roslindale ) (1874), Charlestown (1874), and Hyde Park (1912). Other proposals were unsuccessful for the annexation of Brookline , Cambridge, and Chelsea . Many architecturally significant buildings were built during these early years of
7800-555: The angry colonists. This did not sit well with the colonists, however. In 1770, during the Boston Massacre , British troops shot into a crowd that had started to violently harass them. The colonists compelled the British to withdraw their troops. The event was widely publicized and fueled a revolutionary movement in America. In 1773, Parliament passed the Tea Act . Many of the colonists saw
7930-426: The area. Nevertheless, the city experienced conflict starting in 1974 over desegregation busing , which resulted in unrest and violence around public schools throughout the mid-1970s. Boston has also experienced gentrification in the latter half of the 20th century, with housing prices increasing sharply since the 1990s when the city's rent control regime was struck down by statewide ballot proposition . Boston
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#17328837275968060-424: The barriers to entry for entrepreneurs are the economy, debt from schooling, and the challenges of regulatory compliance. A nascent entrepreneur is someone in the process of establishing a business venture. In this observation, the nascent entrepreneur can be seen as pursuing an opportunity , i.e. a possibility to introduce new services or products, serve new markets, or develop more efficient production methods in
8190-584: The centuries. This was accomplished using earth from the leveling or lowering of Boston's three original hills (the "Trimountain", after which Tremont Street is named), as well as with gravel brought by train from Needham to fill the Back Bay . Christian Science Center , Copley Square , Newbury Street , and New England's two tallest buildings: the John Hancock Tower and the Prudential Center . Near
8320-544: The changes and "dynamic economic equilibrium brought on by the innovating entrepreneur [were] the norm of a healthy economy". While entrepreneurship is often associated with new, small, for-profit start-ups, entrepreneurial behavior can be seen in small-, medium- and large-sized firms, new and established firms and in for-profit and not-for-profit organizations, including voluntary-sector groups, charitable organizations and government . Entrepreneurship may operate within an entrepreneurship ecosystem which often includes: In
8450-470: The city continued to play an important role as a port, manufacturing hub, and center for education and culture. The city also expanded significantly beyond the original peninsula by filling in land and annexing neighboring towns. Boston's many firsts include the United States' first public park ( Boston Common , 1634), the first public school ( Boston Latin School , 1635), and the first subway system ( Tremont Street subway , 1897). Boston has emerged as
8580-460: The city government. A climate action plan from 2019 anticipates 2 ft (1 m) to more than 7 ft (2 m) of sea-level rise in Boston by the end of the 21st century. Many older buildings in certain areas of Boston are supported by wooden piles driven into the area's fill; these piles remain sound if submerged in water, but are subject to dry rot if exposed to air for long periods. Groundwater levels have been dropping in many areas of
8710-464: The city often receives sea breezes , especially in the late spring, when water temperatures are still quite cold and temperatures at the coast can be more than 20 °F (11 °C) colder than a few miles inland, sometimes dropping by that amount near midday. Thunderstorms typically occur from May to September; occasionally, they can become severe, with large hail , damaging winds, and heavy downpours. Although downtown Boston has never been struck by
8840-443: The city's economy, and the city's industrial manufacturing overtook international trade in economic importance by the mid-19th century. The small rivers bordering the city and connecting it to the surrounding region facilitated shipment of goods and led to a proliferation of mills and factories. Later, a dense network of railroads furthered the region's industry and commerce. During this period, Boston flourished culturally as well. It
8970-414: The city, due in part to an increase in the amount of rainwater discharged directly into sewers rather than absorbed by the ground. The Boston Groundwater Trust coordinates monitoring groundwater levels throughout the city via a network of public and private monitoring wells. The city developed a climate action plan covering carbon reduction in buildings, transportation, and energy use. The first such plan
9100-515: The collective nature of entrepreneurship. She mentions that in modern organizations, human resources need to be combined to better capture and create business opportunities. The sociologist Paul DiMaggio (1988:14) has expanded this view to say that "new institutions arise when organized actors with sufficient resources [institutional entrepreneurs] see in them an opportunity to realize interests that they value highly". The notion has been widely applied. The term "millennial entrepreneur" refers to
9230-515: The commander-in-chief of the British forces in North America, led the British army in the siege. On June 17, the British captured Charlestown (now part of Boston) during the Battle of Bunker Hill . The British army outnumbered the militia stationed there, but it was a pyrrhic victory for the British because their army suffered irreplaceable casualties. It was also a testament to the skill and training of
9360-431: The construction of a drinking straw – that require no special qualities. For Schumpeter, entrepreneurship resulted in new industries and in new combinations of currently existing inputs. Schumpeter's initial example of this was the combination of a steam engine and then current wagon-making technologies to produce the horseless carriage . In this case, the innovation (i.e. the car) was transformational but did not require
9490-553: The context of the actions that the nascent entrepreneur undertakes towards establishing the venture as described in Saras Sarasvathy 's theory of Effectuation , Ultimately, these actions can lead to a path that the nascent entrepreneur deems no longer attractive or feasible, or result in the emergence of a (viable) business. In this sense, over time, the nascent venture can move towards being discontinued or towards emerging successfully as an operating entity. The distinction between
9620-410: The creation of a new venture: locating the right opportunity to launch the project venture and assembling the most appropriate team to exploit that opportunity. Resolving the first challenge requires project-entrepreneurs to access an extensive range of information needed to seize new investment opportunities. Resolving the second challenge requires assembling a collaborative team that has to fit well with
9750-527: The demands of the consumer revolution that helped drive the Industrial Revolution in Great Britain, Josiah Wedgwood , the 18th-century potter and entrepreneur and pioneer of modern marketing, which includes devising direct mail , money back guarantees , travelling salesmen and "buy one get one free" , was named by the historian Judith Flanders as "among the greatest and most innovative retailers
9880-636: The destroyed tea from the Bostonians. This angered the colonists further and led to the American Revolutionary War . The war began in the area surrounding Boston with the Battles of Lexington and Concord . Boston itself was besieged for almost a year during the siege of Boston , which began on April 19, 1775. The New England militia impeded the movement of the British Army . Sir William Howe , then
10010-451: The development of dramatic new technology. It did not immediately replace the horse-drawn carriage, but in time incremental improvements reduced the cost and improved the technology, leading to the modern auto industry . Despite Schumpeter's early 20th-century contributions, traditional microeconomic theory did not formally consider the entrepreneur in its theoretical frameworks (instead of assuming that resources would find each other through
10140-535: The eighteenth and nineteenth centuries AD, the appellation "Abirempon" had formalized and politicized to embrace those who conducted trade from which the whole state benefited. The state rewarded entrepreneurs who attained such accomplishments with Mena(elephant tail) which was the "heraldic badge" In the 20th century, entrepreneurship was studied by Joseph Schumpeter in the 1930s and by other Austrian economists such as Carl Menger (1840–1921), Ludwig von Mises (1881–1973) and Friedrich von Hayek (1899–1992). While
10270-460: The elevated Central Artery and incorporated new green spaces and open areas. Boston is located within the Boston Basin ecoregion , which is characterized by low and rolling hills with a number of ponds, lakes, and reservoirs. Forests are mainly transition hardwoods such as oak - hickory mixed with white pine . As a coastal city built largely on fill , sea-level rise is of major concern to
10400-406: The entrepreneur . These scholars tend to focus on what the entrepreneur does and what traits an entrepreneur has. This is sometimes referred to as the functionalistic approach to entrepreneurship. Others deviate from the individualistic perspective to turn the spotlight on the entrepreneurial process and immerse in the interplay between agency and context. This approach is sometimes referred to as
10530-454: The entrepreneur as a multi-tasking capitalist and observed that in the equilibrium of a completely competitive market there was no spot for "entrepreneurs" as economic-activity creators. Changes in politics and society in Russia and China in the late 20th century saw a flowering of entrepreneurial activity, producing Russian oligarchs and Chinese millionaires . In the 2000s, entrepreneurship
10660-485: The entrepreneur typically aims to scale up the company by adding employees, seeking international sales and so on, a process which is financed by venture capital and angel investments . In this way, the term "entrepreneur" may be more closely associated with the term "startup". Successful entrepreneurs have the ability to lead a business in a positive direction by proper planning, to adapt to changing environments and understand their own strengths and weaknesses. Meeting
10790-570: The experiences and strategies of ethnic entrepreneurs as they strive to integrate economically into mainstream U.S. or European society. Classic cases include Jewish merchants and tradespeople in both regions, South Asians in the UK, Koreans, Japanese, and Chinese in the U.S. and the Turks and North Africans in France. The fish and chip industry in the UK was initiated by Jewish entrepreneurs, with Joseph Malin opening
10920-417: The firm size, big or small, it can take part in entrepreneurship opportunities. There are four criteria for becoming an entrepreneur. First, there must be opportunities or situations to recombine resources to generate profit. Second, entrepreneurship requires differences between people, such as preferential access to certain individuals or the ability to recognize information about opportunities. Third, taking on
11050-526: The first Community Health Center in the United States. It mostly served the massive Columbia Point public housing complex adjoining it, which was built in 1953. The health center is still in operation and was rededicated in 1990 as the Geiger-Gibson Community Health Center. The Columbia Point complex itself was redeveloped and revitalized from 1984 to 1990 into a mixed-income residential development called Harbor Point Apartments. By
11180-775: The first mail order business, with the BBC summing up his legacy as "The mail order pioneer who started a billion-pound industry". A 2002 survey of 58 business history professors gave the top spots in American business history to Henry Ford , followed by Bill Gates ; John D. Rockefeller ; Andrew Carnegie , and Thomas Edison . They were followed by Sam Walton ; J. P. Morgan ; Alfred P. Sloan ; Walt Disney ; Ray Kroc ; Thomas J. Watson ; Alexander Graham Bell ; Eli Whitney ; James J. Hill ; Jack Welch ; Cyrus McCormick ; David Packard ; Bill Hewlett ; Cornelius Vanderbilt ; and George Westinghouse . A 1977 survey of management scholars reported
11310-455: The first fish and chip shop in London in the 1860s, while Samuel Isaacs opened the first sit-down fish restaurant in 1896 which he expanded into a chain comprising 22 restaurants. In 1882, Jewish brothers Ralph and Albert Slazenger founded Slazenger , one of the world's oldest sport brands, which has the longest-running sporting sponsorship in providing tennis balls to Wimbledon since 1902. In
11440-455: The first wave of European immigrants . Irish immigrants dominated the first wave of newcomers during this period, especially following the Great Famine ; by 1850, about 35,000 Irish lived in Boston . In the latter half of the 19th century, the city saw increasing numbers of Irish, Germans , Lebanese , Syrians, French Canadians , and Russian and Polish Jews settling there. By the end of
11570-456: The fortifications and dozens of cannons on Dorchester Heights that Henry Knox had laboriously brought through the snow from Fort Ticonderoga . The astonished British awoke the next morning to see a large array of cannons bearing down on them. General Howe is believed to have said that the Americans had done more in one night than his army could have done in six months. The British Army attempted
11700-466: The goal of improving the quality of life and well-being of girls and women. Many are doing so by creating "for women, by women" enterprises. Feminist entrepreneurs are motivated to enter commercial markets by desire to create wealth and social change, based on the ethics of cooperation, equality and mutual respect. These endeavours can have the effect of both empowerment and emancipation. The American-born British economist Edith Penrose has highlighted
11830-552: The highest average rate of philanthropy in the nation, and the city's businesses and institutions rank among the top in the nation for environmental sustainability and new investment. Isaac Johnson , in one of his last official acts as the leader of the Charlestown community before he died on September 30, 1630, named the then-new settlement across the river "Boston". The settlement's name came from Johnson's hometown of Boston, Lincolnshire , from which he, his wife (namesake of
11960-458: The inter-relationships between activities, between an activity (or sequence of activities) and an individual's motivation to form an opportunity belief, and between an activity (or sequence of activities) and the knowledge needed to form an opportunity belief. With this research, scholars will be able to begin constructing a theory of the micro-foundations of entrepreneurial action. Scholars interested in nascent entrepreneurship tend to focus less on
12090-634: The loan from French of the English-language word "entrepreneur" dates to 1762, the word "entrepreneurism" dates from 1902 and the term "entrepreneurship" also first appeared in 1902. According to Schumpeter, an entrepreneur is willing and able to convert a new idea or invention into a successful innovation . Entrepreneurship employs what Schumpeter called the "gale of creative destruction " to replace in whole or in part inferior offerings across markets and industries, simultaneously creating new products and new business models , thus creative destruction
12220-492: The majority of innovations may be much more incremental improvements such as the replacement of paper with plastic in the making of drinking straws . The exploitation of entrepreneurial opportunities may include: The economist Joseph Schumpeter (1883–1950) saw the role of the entrepreneur in the economy as " creative destruction ", Which he defined as launching innovations that simultaneously destroy old industries while ushering in new industries and approaches. For Schumpeter,
12350-519: The militia, as their stubborn defense made it difficult for the British to capture Charlestown without suffering further irreplaceable casualties. Several weeks later, George Washington took over the militia after the Continental Congress established the Continental Army to unify the revolutionary effort. Both sides faced difficulties and supply shortages in the siege, and the fighting
12480-603: The nation in medical innovation and patient care. Schools such as the Boston Architectural College , Boston College , Boston University , the Harvard Medical School , Tufts University School of Medicine , Northeastern University , Massachusetts College of Art and Design , Wentworth Institute of Technology , Berklee College of Music , the Boston Conservatory , and many others attract students to
12610-556: The nation's busiest ports for both domestic and international trade. Boston's harbor activity was significantly curtailed by the Embargo Act of 1807 (adopted during the Napoleonic Wars ) and the War of 1812 . Foreign trade returned after these hostilities, but Boston's merchants had found alternatives for their capital investments in the meantime. Manufacturing became an important component of
12740-453: The next day and night, giving the enemy time to improve their works, to bring up their cannon, and to put themselves in such a state of defence, that I could promise myself little success in attacking them under all the disadvantages I had to encounter. William Howe, 5th Viscount Howe , in a letter to William Legge, 2nd Earl of Dartmouth , about the British army's decision to leave Boston, dated March 21, 1776. Many crucial events of
12870-435: The novice, serial and portfolio entrepreneurs is an example of behavior-based categorization. Other examples are the (related) studies by, on start-up event sequences. Nascent entrepreneurship that emphasizes the series of activities involved in new venture emergence, rather than the solitary act of exploiting an opportunity. Such research will help separate entrepreneurial action into its basic sub-activities and elucidate
13000-419: The official name from the "Town of Boston" to the "City of Boston", and on March 19, 1822, the people of Boston accepted the charter incorporating the city. At the time Boston was chartered as a city, the population was about 46,226, while the area of the city was only 4.8 sq mi (12 km ). In the 1820s, Boston's population grew rapidly, and the city's ethnic composition changed dramatically with
13130-435: The optimum allocation of resources to enhance profitability. Some individuals acquire the new information before others and recombine the resources to gain an entrepreneurial profit . Schumpeter was of the opinion that entrepreneurs shift the production-possibility curve to a higher level using innovations. Initially, economists made the first attempt to study the entrepreneurship concept in depth. Alfred Marshall viewed
13260-701: The organization, working with local neighborhood groups, had begun acquiring properties and setting in place protection from future development. Boston, Massachusetts Boston is the capital and most populous city in the Commonwealth of Massachusetts in the United States . The city serves as the cultural and financial center of the New England region of the Northeastern United States . It has an area of 48.4 sq mi (125 km ) and
13390-494: The particular challenges of the project and has to function almost immediately to reduce the risk that performance might be adversely affected. Another type of project entrepreneurship involves entrepreneurs working with business students to get analytical work done on their ideas. Social entrepreneurship is the use of the by start up companies and other entrepreneurs to develop, fund and implement solutions to social, cultural, or environmental issues. This concept may be applied to
13520-494: The physiocrats. Dating back to the time of the medieval guilds in Germany, a craftsperson required special permission to operate as an entrepreneur, the small proof of competence ( Kleiner Befähigungsnachweis ), which restricted training of apprentices to craftspeople who held a Meister certificate. This institution was introduced in 1908 after a period of so-called freedom of trade ( Gewerbefreiheit , introduced in 1871) in
13650-456: The position of the jet stream . Prevailing wind patterns that blow offshore minimize the influence of the Atlantic Ocean. However, in winter, areas near the immediate coast often see more rain than snow, as warm air is sometimes drawn off the Atlantic. The city lies at the border between USDA plant hardiness zones 6b (away from the coastline) and 7a (close to the coastline). The hottest month
13780-403: The processual approach, or the contextual turn/approach to entrepreneurship. Entrepreneurship includes the creation or extraction of economic value . It is the act of being an entrepreneur, or the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits. Entrepreneurs act as managers and oversee the launch and growth of an enterprise. Entrepreneurship
13910-454: The repeated assembly or creation of temporary organizations. These are organizations that have limited lifespans which are devoted to producing a singular objective or goal and get disbanded rapidly when the project ends. Industries where project-based enterprises are widespread include: sound recording , film production, software development , television production, new media and construction. What makes project-entrepreneurs distinctive from
14040-517: The settlement on the peninsula had been known as "Shawmut" by William Blaxton and "Tremontaine" by the Puritan settlers he had invited. Prior to European colonization , the region surrounding present-day Boston was inhabited by the Massachusett people who had small, seasonal communities. When a group of settlers led by John Winthrop arrived in 1630, the Shawmut Peninsula was nearly empty of
14170-488: The short-term. These driving characteristics allude to the presence of serial entrepreneurship in the region. It has been argued, that creative destruction is largely responsible for the dynamism of industries and long-run economic growth. The supposition that entrepreneurship leads to economic growth is an interpretation of the residual in endogenous growth theory and as such is debated in academic economics. An alternative description posited by Israel Kirzner suggests that
14300-550: The single act of opportunity exploitation and more on the series of actions in new venture emergence, Indeed, nascent entrepreneurs undertake numerous entrepreneurial activities, including actions that make their businesses more concrete to themselves and others. For instance, nascent entrepreneurs often look for and purchase facilities and equipment; seek and obtain financial backing, form legal entities , organize teams; and dedicate all their time and energy to their business Project entrepreneurs are individuals who are engaged in
14430-606: The southwest by the town of Dedham and small portions of Needham and Canton , and to the southeast by the town of Milton , and the city of Quincy . The Charles River separates Boston's Allston-Brighton , Fenway-Kenmore and Back Bay neighborhoods from Watertown and Cambridge, and most of Boston from its own Charlestown neighborhood. The Neponset River forms the boundary between Boston's southern neighborhoods and Quincy and Milton . The Mystic River separates Charlestown from Chelsea and Everett, and Chelsea Creek and Boston Harbor separate East Boston from Downtown ,
14560-509: The temperature dipped down to −10 °F (−23 °C); this was the lowest temperature reading in the city since 1957. In addition, several decades may pass between 100 °F (38 °C) readings; the last such reading occurred on July 24, 2022. The city's average window for freezing temperatures is November 9 through April 5. Official temperature records have ranged from −18 °F (−28 °C) on February 9, 1934, up to 104 °F (40 °C) on July 4, 1911. The record cold daily maximum
14690-535: The term "adventurer" was often used to denote the same meaning. The study of entrepreneurship reaches back to the work in the late 17th and early 18th centuries of Irish-French economist Richard Cantillon , which was foundational to classical economics . Cantillon defined the term first in his Essai sur la Nature du Commerce en Général , or Essay on the Nature of Trade in General , a book William Stanley Jevons considered
14820-662: The top five pioneers in management ideas were: Frederick Winslow Taylor ; Chester Barnard ; Frank Bunker Gilbreth Sr. ; Elton Mayo ; and Lillian Moller Gilbreth . According to Christopher Rea and Nicolai Volland, cultural entrepreneurship is "practices of individual and collective agency characterized by mobility between cultural professions and modes of cultural production", which refers to creative industry activities and sectors. In their book The Business of Culture (2015), Rea and Volland identify three types of cultural entrepreneur: "cultural personalities", defined as "individuals who buil[d] their own personal brand of creativity as
14950-698: The traits of an entrepreneur using various data sets and techniques. Looking at data from the Global Entrepreneurship Monitor (GEM), entrepreneurial traits specific to the Association of Southeast Asian Nations (ASEAN) are: experience in managing or owning a business, pursuit of an opportunity while being employed, and self-employment. In the decision to establish a new business, the ASEAN entrepreneur depends especially on their own long-term mental model of their enterprise, while scanning for new opportunities in
15080-531: The type of organization and creativity involved. Entrepreneurship ranges in scale from solo, part-time projects to large-scale undertakings that involve a team and which may create many jobs. Many "high value" entrepreneurial ventures seek venture capital or angel funding ( seed money ) to raise capital for building and expanding the business. Many organizations exist to support would-be entrepreneurs, including specialized government agencies, business incubators (which may be for-profit, non-profit, or operated by
15210-540: The willingness of the entrepreneur to assume the risk and to deal with uncertainty, thus he drew attention to the function of the entrepreneur and distinguished between the function of the entrepreneur and the owner who provided the money. Jean-Baptiste Say also identified entrepreneurs as a driver for economic development, emphasizing their role as one of the collecting factors of production allocating resources from less to fields that are more productive. Both Say and Cantillon belonged to French school of thought and known as
15340-460: The winter of 2011–12 saw only 9.3 in (23.6 cm) of accumulating snow, but the previous winter, the corresponding figure was 81.0 in (2.06 m). The city's coastal location on the North Atlantic makes the city very prone to nor'easters , which can produce large amounts of snow and rain. Fog is fairly common, particularly in spring and early summer. Due to its coastal location,
15470-407: The work of Richard Cantillon and Adam Smith in the late 17th and early 18th centuries. However, entrepreneurship was largely ignored theoretically until the late 19th and early 20th centuries and empirically until a profound resurgence in business and economics since the late 1970s. In the 20th century, the understanding of entrepreneurship owes much to the work of economist Joseph Schumpeter in
15600-410: The world has ever seen". Another historian Tristram Hunt called Wedgwood a "difficult, brilliant, creative entrepreneur whose personal drive and extraordinary gifts changed the way we work and live." Victorian-era Welsh entrepreneur Pryce Pryce-Jones , who would capitalise on the railway network created during the Industrial Revolution and the modern postal system that also developed in the UK, formed
15730-702: Was admired for its rarefied literary life and generous artistic patronage . Members of old Boston families—eventually dubbed the Boston Brahmins —came to be regarded as the nation's social and cultural elites. They are often associated with the American upper class , Harvard University , and the Episcopal Church . Boston was a prominent port of the Atlantic slave trade in the New England Colonies , but
15860-538: Was commissioned in 2007, with updates released in 2011, 2014, and 2019. This plan includes the Building Energy Reporting and Disclosure Ordinance, which requires the city's larger buildings to disclose their yearly energy and water use statistics and to partake in an energy assessment every five years. A separate initiative, Resilient Boston Harbor, lays out neighborhood-specific recommendations for coastal resilience . In 2013, Mayor Thomas Menino introduced
15990-683: Was extended from its origins in for-profit businesses to include social entrepreneurship , in which business goals are sought alongside social, environmental or humanitarian goals and even the concept of the political entrepreneur . Entrepreneurship within an existing firm or large organization has been referred to as intrapreneurship and may include corporate ventures where large entities "spin-off" subsidiary organizations. Entrepreneurs are leaders willing to take risk and exercise initiative, taking advantage of market opportunities by planning, organizing and deploying resources, often by innovating to create new or improving existing products or services. In
16120-604: Was launched. The term "entrepreneur" is often conflated with the term " small business " or used interchangeably with this term. While most entrepreneurial ventures start out as a small business, not all small businesses are entrepreneurial in the strict sense of the term. Many small businesses are sole proprietor operations consisting solely of the owner—or they have a small number of employees—and many of these small businesses offer an existing product, process or service and they do not aim at growth. In contrast, entrepreneurial ventures offer an innovative product, process or service and
16250-433: Was limited to small-scale raids and skirmishes. The narrow Boston Neck, which at that time was only about a hundred feet wide, impeded Washington's ability to invade Boston, and a long stalemate ensued. A young officer, Rufus Putnam , came up with a plan to make portable fortifications out of wood that could be erected on the frozen ground under cover of darkness. Putnam supervised this effort, which successfully installed both
16380-477: Was named after Boston, Lincolnshire , England. During the American Revolution , Boston was home to several events that proved central to the revolution and subsequent Revolutionary War , including the Boston Massacre (1770), the Boston Tea Party (1773), Paul Revere's Midnight Ride (1775), the Battle of Bunker Hill (1775), and the Siege of Boston (1775–1776). Following American independence from Great Britain ,
16510-601: Was reversed in 2013 when it was resold to Boston businessman John W. Henry . In 2016, it was announced General Electric would be moving its corporate headquarters from Connecticut to the Seaport District in Boston, joining many other companies in this rapidly developing neighborhood. The city also saw the completion of the Central Artery/Tunnel Project, known as the Big Dig , in 2007 after many delays and cost overruns. On April 15, 2013, two Chechen Islamist brothers detonated
16640-523: Was soon overtaken by Salem, Massachusetts and Newport, Rhode Island . Boston eventually became a center of the American abolitionist movement . The city reacted largely negatively to the Fugitive Slave Act of 1850 , contributing to President Franklin Pierce 's attempt to make an example of Boston after Anthony Burns 's attempt to escape to freedom. In 1822, the citizens of Boston voted to change
16770-487: Was supported by the mayor and a coalition of business leaders and local philanthropists, but was eventually dropped due to public opposition. The USOC then selected Los Angeles to be the American candidate with Los Angeles ultimately securing the right to host the 2028 Summer Olympics . Nevertheless, Boston is one of eleven U.S. cities which will host matches during the 2026 FIFA World Cup , with games taking place at Gillette Stadium . The geographical center of Boston
16900-499: Was the person most directly responsible for the foundation of Boston by Puritan colonists in 1630. This occurred after Blaxton invited one of their leaders, Isaac Johnson , to cross Back Bay from the failing colony of Charlestown and share the peninsula. The Puritans made the crossing in September 1630. Puritan influence on Boston began even before the settlement was founded with the 1629 Cambridge Agreement . This document created
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