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What is the full form of LOB?

What is the full form of LOB? Correct Answer Line of Business

Line of business (LOB):

  • It is a general term that refers to the set of related products that serve a particular customer transaction or business need.
  • In some sectors, like insurance, the LOB also has a regulatory and accounting definition to meet a statutory set of insurance policies.
  • LOB 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 another industry-analysis method) and other relevant industry information.

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