Cost control is the process of monitoring and managing expenses to ensure that a business operates within its budget. It involves setting financial targets, tracking actual spending, and analyzing variances to identify areas where costs can be reduced. Effective cost control helps organizations maintain profitability and improve financial performance. To implement cost control, businesses often use tools like budgets, financial reports, and performance metrics. By regularly reviewing these tools, managers can make informed decisions about resource allocation and identify inefficiencies. This proactive approach not only helps in minimizing waste but also supports strategic planning for future growth.