Goal-setting is important because it provides direction, helps see the bigger picture, and provides motivation. There are various types of goals people can set, including short-term goals that are achieved quickly, long-term goals requiring more time, personal goals relating to an individual's life, professional goals relating to their career, financial goals, academic goals, and social goals. The document provides an assignment to establish a SMART short-term goal and write a one page action plan for attaining it within three weeks.