On the new Facebook pages you have a profile picture and a cover photo. A profile picture is what will appear when you post on your page or profile, or on someone else's page or profile. It is also what will appear in the news feed whenever you make an update to your profile or page.
A cover photo is a larger image that will appear above your profile picture. Facebook suggests that this image be unique and be representative of your brand. For a business Facebook page you might use a picture of your product, photo of your storefront or a group shot of your employees. But don't limit yourself. The cover photo is an opportunity to be fun and creative.