What does line of business mean?
Definitions for line of business
line of busi·ness
This dictionary definitions page includes all the possible meanings, example usage and translations of the word line of business.
Princeton's WordNet
line, product line, line of products, line of merchandise, business line, line of businessnoun
a particular kind of product or merchandise
"a nice line of shoes"
field, field of operation, line of businessnoun
a particular kind of commercial enterprise
"they are outstanding in their field"
ChatGPT
line of business
A line of business (LOB) is a specific product or service offering that a company provides to generate revenue. This can include different departments, divisions, or market segments within a company where specific strategies, goals, and objectives are developed to meet customer needs and drive profits. Lines of business can vary greatly from company to company, often depending on the industry or the size of the company. Examples of lines of business may include wholesale, retail, commercial services, or manufacturing among others.
Wikidata
Line of business
Line of business 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.
Etymology and Origins
Line of Business
A theatrical phrase for the special kind of parts in which an actor is experienced. One who plays the “Juveniles” would not be entrusted with an “Old Man’s” part, and so forth.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of line of business in Chaldean Numerology is: 3
Pythagorean Numerology
The numerical value of line of business in Pythagorean Numerology is: 7
Translations for line of business
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"line of business." Definitions.net. STANDS4 LLC, 2024. Web. 25 Apr. 2024. <https://www.definitions.net/definition/line+of+business>.
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