Who is primarily responsible for setting long-term goals in a corporation?

The Board of Directors is primarily responsible for setting long-term goals in a corporation. Their role is to provide strategic direction and oversight of the organization's operations. This includes establishing objectives that align with the company's mission and vision, ensuring that the corporation is effectively managed in the long-term interests of the shareholders.

While shareholders have a vested interest in the direction of the company, their role is more about voting on major issues and approving significant changes rather than actively setting the strategic goals. Officers of the corporation and the management team are responsible for implementing the strategies and policies set forth by the Board, but the Board itself is tasked with the overall governance and long-term planning necessary for growth and sustainability.