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, line and/or business:
“We are apt to say that a foreign policy is successful only when the country, or at any rate the governing class, is united behind it. In reality, every line of policy is repudiated by a section, often by an influential section, of the country concerned. A foreign minister who waited until everyone agreed with him would have no foreign policy at all.”
—A.J.P. (Alan John Percivale)
“What is line? It is life. A line must live at each point along its course in such a way that the artist’s presence makes itself felt above that of the model.... With the writer, line takes precedence over form and content. It runs through the words he assembles. It strikes a continuous note unperceived by ear or eye. It is, in a way, the soul’s style, and if the line ceases to have a life of its own, if it only describes an arabesque, the soul is missing and the writing dies.”
—Jean Cocteau (1889–1963)
“It is the business of the wealthy man
To give employment to the artisan.”
—Hilaire Belloc (1870–1953)