Line of business (LOB) is a general term which often refers to a set of one or more highly related products which service a particular customer transaction or business need. In some industry sectors, like insurance, "line of business" also has a regulatory and accounting definition to mean a statutory set of insurance policies. It may or may not be a strategically relevant business unit.
"Line of business" often refers to an internal corporate business unit, whereas the term "industry" refers to an external view that includes all competitors competing in a similar market. A line of business will often examine its position within an industry using a Porter five forces analysis or other industry-analysis method and other relevant industry information.
Read more about Line Of Business: Computer Applications, Mobile LOB
Famous quotes containing the words Line Of Business, line of, line and/or business:
“As for conforming outwardly, and living your own life inwardly, I do not think much of that. Let not your right hand know what your left hand does in that line of business. It will prove a failure.... It is a greater strain than any soul can long endure. When you get God to pulling one way, and the devil the other, each having his feet well braced,—to say nothing of the conscience sawing transversely,—almost any timber will give way.”
—Henry David Thoreau (1817–1862)
“The man of business ... goes on Sunday to the church with the regularity of the village blacksmith, there to renounce and abjure before his God the line of conduct which he intends to pursue with all his might during the following week.”
—George Bernard Shaw (1856–1950)
“One line typed twenty years ago
can be blazed on a wall in spraypaint
to glorify art as detachment
or torture of those we
did not love but also
did not want to kill.”
—Adrienne Rich (b. 1929)
“I deny the lawfulness of telling a lie to a sick man for fear of alarming him. You have no business with consequences; you are to tell the truth.”
—Samuel Johnson (1709–1784)