By definition, ethics is the standards for morally right and wrong conduct in business. An example of ethics in business would be a person's ability to use discretion with sensitive and personal information that they get told. Whether you're the manager or just a colleague lending an ear, keeping people's private information private is essential in building trust within the workplace.

By definition, culture in business is a shared set of workplace beliefs, values, attitudes, standards, purposes, and behaviors. An example of culture within a business could be the dress code and layout of an office. If each person within the company has a similar view on the way things should be run and laid out, a business culture is formed. 

By definition, change in business is a variation in the common way of doing things. Whenever people perform a task in a certain way, they get accustomed to them. They develop methods which they can implement routinely to achieve these tasks. Whether its an assignment or a way of doing something, change happens frequently int the workplace. Companies are always trying  to adapt and improve their way of functioning.

By definition, business innovation is when companies implement new processes, ideas, services, or products to boost the bottom line. Innovation is very similar to the concept of change - a company's need or want to shift or improve its way of doing a task. Traditional automakers faced increasing pressure to address environmental concerns and reduce reliance on fossil fuels. In response, companies like Tesla pioneered the development of high-performance EVs with longer battery ranges and advanced technology features. This disruptive innovation not only transformed the automotive industry but also spurred competition and collaboration among traditional manufacturers to invest in electric vehicle research and development.

By definition, business strategy is an outline of the actions and decisions a company plans to take to reach its goals and objectives. A business strategy defines what the company needs to do to reach its achieve its targets, which can help guide the decision-making process for hiring as well as resource allocation. 

By definition, risk in business is the exposure a company or organization has to factor(s) that will lower its profits or lead it to fail. Anything that threatens a company's ability to achieve its financial goals is considered a business risk. A possible risk within a business environment could be competition. If you operate within the fashion industry, competition is a huge risk that you could face when running your business.