Which term refers to the setting of goals and developing methods to meet those goals?

The term that refers to the setting of goals and developing methods to meet those goals is planning. Planning is a fundamental aspect of management that involves defining objectives and determining a course of action to achieve those objectives. It encompasses identifying what needs to be achieved, assessing current resources and capabilities, and formulating specific steps, timelines, and methods needed to reach the desired outcomes.

While strategizing could also involve goal-setting, it is more focused on high-level directions and competitive positioning rather than the detailed processes of planning. Organizing pertains to arranging resources and tasks to implement the plan, and budgeting involves allocating financial resources, which are typically part of the broader planning process. Therefore, planning is the most accurate term for describing the activity of establishing goals and outlining how to achieve them.