Praxis Academy coined the term Redemptive Entrepreneurship. According to Praxis, there are three rings to the redemptive framework: Exploitative, Ethical, and Redemptive. Exploitative Entrepreneurship is when a company exists only for profit, and will do anything to achieve profit even if it means exploiting their customers. Ethical Entrepreneurship is when a company engages in ethical business practices so that both members in a transaction come out better than they were before. Redemptive Entrepreneurship is when a company exists not only for profit, but for the betterment of society as a whole.
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Zach, This is interesting! This is a great way to break down the framework and people's intentions with being a redemptive entrepreneur. Sometimes we do not think of people's intentions behind their work, which is unfortunate but sadly true. We think everyone is out there to do good and to be good to others, but that's not always the case.