Definition, Meaning & Synonyms
line-of-business
Noun
/ˌlaɪn əl ˈbʌsɪnɪs/
Definition
A line of business (LOB) is a specific area of economic activity or a category of products and services that a company offers.
Examples
- The software development division is a key line-of-business for the tech company.
- Retail sales have become an important line-of-business for many organizations.
- They decided to expand their line-of-business by introducing new product lines.
Meaning
It refers to a distinct segment within a company that focuses on providing particular goods or services to meet customer needs.
Synonyms
- Business segment
- Division
- Sector
- Category
