Step 1: Understanding the Concept:
Planning is a systematic process that involves a logical sequence of steps to ensure organizational success.
It begins with identifying the goal and moves toward analyzing environmental constraints before choosing the best path of action.
Step 2: Detailed Explanation:
The logical steps in the planning process are:
1. Setting Objectives (E): This is the first step. You must know what you want to achieve before you can plan how to do it.
2. Developing Premises (A): Since planning is for the future, managers must make assumptions (premises) about the future environment (e.g., inflation, government policy).
3. Identifying Alternative Courses of Action (B): After establishing premises, the manager lists out different ways to achieve the set objectives.
4. Evaluating Alternative Courses (C): Each alternative is then scrutinized for its feasibility, profitability, and potential risks.
5. Selecting an Alternative (D): The most suitable and efficient course of action is chosen.
Subsequent steps (not in options) include Implementing the plan and Follow-up.
From the given options, the correct order is (E) $\rightarrow$ (A) $\rightarrow$ (B) $\rightarrow$ (C) $\rightarrow$ (D).
Step 3: Final Answer:
The sequence starting with objectives and ending with selection is the standard textbook process for planning.
This corresponds to option (C).