What is an example of line of business?

What is your line of business example?

A line of business (LOB) is a product or service a company offers to serve a specific customer need. A bank, for example, provides LOBs to serve consumers' financial needs, such as loans, overdrafts, and mortgages for companies of all sizes and individuals who require capital.

What is an example of a line of work?

Ellen pursued this line of work for 15 years through a private practice in New York City. In her line of work, she's often asked by patients about the purpose of toenails. In this line of work, Astrid was eventually hired as the maître d' at a local restaurant called The French Café.

What is a major line of business?

Identification of Major Line of Business: A line of business is an activity that produces either dramatically different products or services or that are geared towards very different markets.

What is a specific line of business?

Specific line of business means any commercial, industrial or investment activity that is generally recognized as a distinct economic undertaking or enterprise intended to generate a profit for the issuer.

What is key line of business?

A Line of Business encompasses the products, services, and associated activities that relate to a particular area of a company's operations. For example, in a financial institution, lines of business might include retail banking, investment banking, and asset management.

What is a synonym for line of business?

synonyms: field, field of operation. business, business enterprise, commercial enterprise.

What is an example of a lob in a call center?

Examples of LOB in call center

Customer service: This LOB is responsible for answering customer questions and resolving their issues. This could include things like helping customers with their orders, troubleshooting problems with their accounts, or providing information about products and services.

Why is line of business important?

A line-of-business service unit is responsible for management of the full life cycle of the associated products, from concept through obsolescence; each product life cycle can be modeled and evaluated as a product value chain and managed as a product life-cycle project.

What is a lob code?

LOB Code describes the limitation on benefits (LOB) category in form 1042-S that qualifies the taxpayer and the code for the requested treaty benefits.

What is lob in manufacturing?

The “Line of Balance” (LOB) is a graphic device that enables a manager to see at a single glance which of many activities comprising a complex operation are “in balance” i.e., whether those which should have been completed at the time of the review actually are completed and whether any activities scheduled for future ...

What is a personal line business?

personal lines business means all insurance contracts, policies, certificates, binders, slips, covers or other agreements of insurance, including all supplements, riders, endorsements, renewals and extensions for personal automobile liability and personal physical damage, homeowners, personal excess and personal ...

What do you mean by line of business?

Line of business (LOB) is a general term that describes the related product or services a business or manufacturer offers. A company that manufactures solid-state disk drives, for example, might claim its LOB is data storage. An LOB serves a particular business need or a particular customer transaction.

What is a single line of business?

A line of business is a corporate subdivision focused on a single product or family of products.

What is the same line of business?

Same Line of Business means selling competitive goods, or being in a business that would ordinarily be expected to sell the type of goods to be distributed under the franchise.

What is the line of business model?

Line of Business (LOB) is an attitude to managing an organization that involves the isolation and definition of specific areas of activity. Each such area, or LOB, operates practically as a separate unit within a larger organization, allowing a focus on a particular business domain.

What does primary line of business mean?

Related Definitions

Primary Lines of Business means construction services, including pipeline construction, platform construction, platform installation and removal and diving services primarily to the offshore oil and gas industry.

What is the principal line of business?

Principal Line of Business means the business in which substantial assets are held by a company. Sample 1. Principal Line of Business means with respect to a Person a line of business representing more than 20% of such Person's revenues or earnings for the prior fiscal year.

What are 3 examples of a line?

What is an example of a line organization in business?

For example, a department store could use the line-staff organization. The line managers might include the store manager , who monitors sales goals and creates shifts for all employees, as well as the department supervisors, who manage the shoe, jewelry and apparel sections.

What is another word for line of work?

synonyms: business, job, line, occupation.