What is the process of planning, controlling, and monitoring daily business activities called?

The process of planning, controlling, and monitoring daily business activities is known as Operations Management. This area focuses on the efficient and effective management of processes that produce and distribute goods and services. Operations management encompasses a wide range of activities, including the design of processes, management of production, quality control, inventory management, and ensuring that goods and services are delivered on time and meet customer expectations.

In the context of a business, operations management is crucial because it directly impacts productivity, efficiency, and overall profitability. It involves not just overseeing the production process but also making strategic decisions that affect the daily operations of the organization. Effective operations management allows businesses to streamline processes, reduce costs, and improve customer satisfaction by delivering high-quality products and services consistently.

The other options, while related to aspects of business management, do not encapsulate the broader scope of planning, controlling, and monitoring daily activities in the same comprehensive manner as operations management. Production management, for example, focuses specifically on the process of manufacturing goods. Logistics management emphasizes the transportation and storage of goods, and administrative management deals more with the organizational aspects of running a business, such as planning and maintaining policies. Thus, operations management is the most appropriate term for the overall process described in the question.