Final answer:
The CEO setting a revenue increase goal is involved in planning, which involves setting objectives and outlining strategies to meet those targets.
Step-by-step explanation:
The CEO setting a goal of increasing revenues by 5% is engaged in planning. Planning is the process of setting objectives and determining the best course of action to achieve those objectives. In this context, the CEO is identifying a revenue growth target and would typically devise strategies and tactics aimed at achieving the specified revenue increase, such as diversifying revenue streams, enhancing advertising techniques, or introducing new subscription models.