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.
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Famous quotes containing the words line of, line and/or business:
“I had crossed de line of which I had so long been dreaming. I was free; but dere was no one to welcome me to de land of freedom. I was a stranger in a strange land, and my home after all was down in de old cabin quarter, wid de ole folks, and my brudders and sisters. But to dis solemn resolution I came; I was free, and dey should be free also; I would make a home for dem in de North, and de Lord helping me, I would bring dem all dere.”
—Harriet Tubman (c. 1820–1913)
“It may be the more
That no line of her writing have I,
Nor a thread of her hair,
No mark of her late time as dame in her dwelling, whereby
I may picture her there.”
—Thomas Hardy (1840–1928)
“History in the making is a very uncertain thing. It might be better to wait till the South American republic has got through with its twenty-fifth revolution before reading much about it. When it is over, some one whose business it is, will be sure to give you in a digested form all that it concerns you to know, and save you trouble, confusion, and time. If you will follow this plan, you will be surprised to find how new and fresh your interest in what you read will become.”
—Anna C. Brackett (1836–1911)