The increasing recognition of environmental issues and the urgency to address climate change have prompted businesses worldwide to adopt sustainable practices and integrate them into their strategic decision-making processes. The concept of green business strategy has emerged as a key approach for organizations to align their operations with environmental sustainability goals while also pursuing economic growth. In parallel, sustainable entrepreneurship has gained traction as a powerful driver of innovative and socially responsible business models. The concept of green business strategy has evolved over the past few decades in response to increasing environmental concerns and societal expectations. Initially, environmental sustainability was seen as a compliance issue, with firms focusing on regulatory compliance and risk management (Delmas & Toffel, 2004). However, as the understanding of sustainability deepened, businesses started to recognize the potential for competitive advantage through proactive environmental strategies (Porter & van der Linde, 1995). This shift led to the development of strategic frameworks such as the Porter's Five Forces model, which incorporated environmental factors into industry analysis (Porter, 2008). The adoption of green business strategies offers several benefits to organizations. Firstly, it enables companies to enhance their corporate reputation and stakeholder relationships (Waddock & Graves, 1997). By demonstrating a commitment to environmental sustainability, firms can attract environmentally conscious customers, investors, and employees, leading to improved brand image and market positioning (Dangelico & Pujari, 2010). Moreover, green strategies can drive innovation by stimulating the development of eco-friendly products, processes, and technologies (Hart, 1995). This innovation focus can lead to cost savings, improved operational efficiency, and long-term competitiveness (Porter & van der Linde, 1995).

Sustainable entrepreneurship complements the concept of green business strategy by emphasizing the role of entrepreneurial individuals and ventures in driving sustainability-driven innovations and business models. Sustainable entrepreneurs proactively identify and exploit opportunities that combine economic viability with positive social and environmental outcomes (Schaltegger et al., 2012). These entrepreneurs exhibit a unique set of characteristics, including environmental awareness, a sense of purpose, and a willingness to take risks to create sustainable value (Shepherd & Patzelt, 2011).