Step 1: Comprehending the Inquiry.
The inquiry concerns the managerial process of establishing goals and devising strategies for their attainment.
Step 2: Evaluating the Choices.
- Planning: Planning is the management function that entails defining objectives and selecting the optimal approach to accomplish them.
- Organising: Organising focuses on arranging resources and tasks, but not on initial objective setting.
- Coordination: Coordination ensures synergy among organizational components, rather than objective formulation.
- Controlling: Controlling monitors progress and implements corrective measures, but it does not involve setting objectives.
Step 3: Determination.
The appropriate response is Planning, as it directly encompasses objective establishment and the creation of strategies for their realization.
Final Determination: \[\boxed{\text{The correct answer is (1) Planning.}}\]