ECONOMICS

Detailed explanation-1: -Control is the process of monitoring the company’s operations to determine whether the company’s objectives are being achieved.

Detailed explanation-2: -The controlling process in business management is when managers set, measure and refine their business operations and manage cost control. By using a controlling process, a company can navigate changes to the supply chain, customer demand and other variables that impact a company’s livelihood.

Detailed explanation-3: -What’s the difference between monitoring and controlling? Monitoring involves collecting and analyzing data gathered from the project. Controlling uses these findings to make changes. With this data, project managers can actively tweak performance to maintain alignment with the original plan.

Detailed explanation-4: -The control process is the careful collection of information about a system, process, person, or group of people which is required to make necessary decisions about each of the departments in the process.