I want to send a command from the Serial Monitor on the PC to the board ( USB connected ).
From what I understand with Serial.read(), it will sit and wait for input from the Serial Monitor and no other code in the loop is processed until it reads something.
Is there a way to get it to continue with the rest of a code sketch until it receives something from Serial Monitor ?
Beg/Borrow/Buy a copy of "The C Programming Language" by Kernigan & Ritchie. K&R walks you through all this stuff: the difference between string and character literals, pointers versus data, and a bunch of other fun things. I found it quite useful due to my history as a Pascal/Prolog/Perl/Python/Ruby programmer.
Be aware that using the String type can cause you trouble later - it's a great abstraction, especially when you're starting out with the Arduino, but manipulating Strings involves dynamic memory allocation behind the scenes. As Arduino has little RAM, this can quickly lead to fragmentation and unexpected failures. Think about using char arrays instead for production code, even though it is more work, especially if it will run for a long time.