What is the term for setting goals and developing methods to achieve them?

The correct term for setting goals and developing methods to achieve them is "planning." This process involves outlining specific objectives and devising strategies to reach those desired outcomes. Planning serves as a foundational element in business management, as it guides decision-making and aligns resources efficiently to achieve the organization’s targets.

In the context of business, planning encompasses various aspects such as strategic planning, tactical planning, and operational planning. Each of these levels focuses on different time frames and scales of action but all revolve around the central idea of goal setting and developing actionable steps to meet those goals.

The other terms offer distinct but related functions within the broader management framework. Forecasting involves predicting future conditions or trends based on historical data and analysis, which helps in making informed decisions but does not inherently encompass the setting of goals. Budgeting is specifically concerned with financial planning, allocating resources, and managing expenditures, while scheduling refers to organizing tasks over time. While these functions contribute to achieving goals, they do not directly involve the process of defining them and establishing the methods to achieve them, which is at the core of planning.