Identify the correct sequence of steps under the Planning function:

(A) Setting objectives
(B) Identifying alternative courses of action
(C) Developing premises
(D) Evaluating alternative courses of action

Choose the correct answer from the options given below:

The correct answer is (A), (C), (B), (D).

Planning is the primary function of management that involves deciding in advance what to do, how to do it, when to do it, and who is to do it. The systematic process of planning involves a logical sequence of steps. Let us break down the steps given in the question in their correct sequential order:

1. Setting Objectives (A):
The first and most crucial step in planning is establishing objectives or goals. Objectives specify what the organization wants to achieve and give direction to all departments and employees. Therefore, step (A) comes first.

2. Developing Premises (C):
Once objectives are set, the management must make assumptions about the future environment in which the plans are to be implemented. These assumptions are called planning premises (e.g., forecasting market demand, government policy changes, tax rates, etc.). Thus, step (C) is the second step.

3. Identifying Alternative Courses of Action (B):
After establishing the objectives and premises, the next step is to discover and list all possible routes or alternatives to achieve those goals. There are usually multiple ways to accomplish a task. Hence, step (B) follows premises development.

4. Evaluating Alternative Courses of Action (D):
Once the alternative paths are identified, they must be thoroughly evaluated by weighing their pros and cons, cost, feasibility, and potential risks in light of the planning premises and organizational goals. Thus, step (D) comes after identifying the alternatives.

Combining these logical steps in order, we get the sequence: (A) → (C) → (B) → (D).