Plain English Meaning
It is the direction, in degrees on a magnetic compass, that points from the radio beacon out to the airplane. Inbound bearings point toward the station; outbound bearings point away from it.
Full Definition
An outbound magnetic bearing (MB) is the magnetic direction measured from an NDB (non-directional beacon) station outward to the aircraft. It describes the line, expressed in degrees magnetic, that runs from the station out to where the aircraft is or will be positioned, as opposed to an inbound bearing which runs from the aircraft toward the station.
Context Anchor
Seen in instrument navigation when using a bearing to intercept or track away from a navigation station.