Paper Title
Sustainability Business Practice and Sustainable Entrepreneurship in The Western Balkans: Analysis of The Delphi Study Results

Abstract
Sustainable entrepreneurship has emerged as a key driver of the global transition toward sustainable development, integrating economic performance with environmental protection and social responsibility. Unlike traditional entrepreneurship, which primarily aims at generating profit, sustainable entrepreneurship embraces a multidimensional perspective that balances financial viability with and ecological societal well-being. This paper addresses both the conceptual foundations and the empirical dimensions of sustainable entrepreneurship by combining a scoping literature review with a Delphi study conducted in four widening countries of the Western Balkans (Serbia, Bosnia & Herzegovina, North Macedonia, and Albania). The literature review highlights the increasing significance of sustainable entrepreneurship within international strategies such as the Europe 2020 framework and the United Nations’ 2030 Development Agenda. These initiatives recognize entrepreneurship as a catalyst for innovation, job creation, and systemic change, while also stressing the need for circular economy practices, sustainable investments, and the integration of ESG principles into business models. Academic discourse increasingly frames entrepreneurship as a vehicle for advancing sustainability, where innovation, institutional support, and stakeholder collaboration are essential levers for transformation. Empirical insights from the Delphi study reveal a high level of expert consensus on the multidimensional character of sustainability. Environmental priorities include energy management, energy efficiency, pollution control, waste management, and biodiversity protection. Social priorities are linked to employee training, work conditions, awareness raising, social inclusion, and community engagement, while economic priorities are focused on worker education, stakeholder cooperation, transparency in reporting, growth, and socially responsible business practices. Despite this broad understanding, significant challenges hinder implementation in the region, such as limited financial and human resources, weak institutional frameworks, insufficient legislation, and low levels of public awareness. The findings suggest that sustainable entrepreneurship in widening countries remains at an early stage of development, requiring stronger institutional backing, capacity building, and cultural change. By addressing systemic barriers and fostering collaboration among businesses, governments, and communities, sustainable entrepreneurship can significantly contribute to competitiveness, resilience, and inclusive growth in the Western Balkans. Keywords - Sustainable Entrepreneurship, Sustainability, Western Balkans, Delphi Study, ESG.