WordNet
n. a particular kind of product or merchandise; "a nice line of shoes" [syn: line, product line, line of products, line of merchandise, business line]
a particular kind of commercial enterprise; "they are outstanding in their field" [syn: field, field of operation]
Wikipedia
Line of business (LOB) is a general term which often refers to a set of one or more highly related products which serves a particular customer transaction or business need. In some industry sectors, like insurance, "line of business" also has a regulatory and accounting definition to meet 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.
Usage examples of "line of business".
Pierre I will not give you eight cents for the whole layout, although of course it is very useful to parties in our line of business.
Mary was a dressmaker, born and reared in Granville, who had come to New York to establish herself there in her line of business.
It must have been the trail of profit and loss, not any special interest, which had led him into the specific line of business whose master he now was, but he had developed a passion for it nevertheless.
The Frenchman was too much in Suchard's line of business, and if there was one sort of person whom Suchard distrusted, it was a professional rival.
Rose came, now long since married to a successful business man who varied in his line of business from canned goods to merchant banking.
I decided to call Susanna Drew and ask her to have dinner with me, telling myself that it was in line of business.
Is it just a coincidence that the line of business you're in happens to be what they're telling us we have to do?
If he was going into a new line of business, there was no better time to start, he supposed.