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)
“I had lived over twenty years without the legal right to be alone one hour M to have the exclusive use of one foot of space M to receive an unopened letter, or to preserve a line of manuscript “from sharp and sly inspection.””
—Jane Grey Swisshelm (1815–1884)
“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)
“Writing ought either to be the manufacture of stories for which there is a market demand—a business as safe and commendable as making soap or breakfast foods—or it should be an art, which is always a search for something for which there is no market demand, something new and untried, where the values are intrinsic and have nothing to do with standardized values.”
—Willa Cather (1876–1947)