According to me, Goal Setting is the most important of the five steps in the strategic planning. For any business, it is very important to determine two things. Where the business is presently now and where does the business want to see itself in the next five years. Fixing goals is very important as goals give a direction which the business follows to achieve success. Goals can be both long term and short term as both are equally important. Goals allow us to identify what is important and give a clear-cut definition of what needs to be achieved. Accountability is also decided and measured If proper goals are in place.