Q.Saurabh Jain set up a telecom business in Nasik, named as 'Ketone', with an ambitious target of reaching out to 90% of the Indian population within one year. He chose this business on the belief that the demand for data services will increase 4 times within the next 2 – 3 years. To fulfil such an ambitious target, he had to either acquire an existing telecom business or collaborate or go independent aggressively in the light of tough competition. He assessed the proposals of different companies vis-a-vis earnings per share, tax liabilities, dividends paid, etc. and their future projections, knowing fully well that the projections may change if the country's economic policies get modified. The above paragraph discusses some of the steps of one of the functions of management. By quoting the lines from the above paragraph, explain these steps in chronological order.

The paragraph describes steps from the planning function of management, specifically the sub-step of developing alternatives. Here is the chronological explanation, quoting the relevant lines.

First, the manager identifies possible courses of action. The paragraph states: "he had to either acquire an existing telecom business or collaborate or go independent aggressively in the light of tough competition." This shows Saurabh Jain generating the available alternatives.

Second, he evaluates each alternative against key criteria. The text says: "He assessed the proposals of different companies vis-a-vis earnings per share, tax liabilities, dividends paid, etc. and their future projections." This is the step of weighing the pros and cons of each option. …

The function of management being discussed here is Planning. Planning is the foundational function — it decides what is to be done, how, and by when. Within planning, after setting objectives and making assumptions about the future (premises), a manager must identify and evaluate different ways to reach the goal. This is exactly what Saurabh Jain is doing.

The first step visible in the paragraph is Developing Alternatives. Saurabh Jain had an ambitious target: reaching 90% of India’s population within one year. To achieve this, he knew he could not simply continue as before. The paragraph states: “To fulfil such an ambitious target, he had to either acquire an existing telecom business or collaborate or go independent aggressively in the light of tough competition.” This line shows that he consciously listed out the possible courses of action — acquisition, collaboration, or going it alone. A good planner always generates multiple alternatives because the first idea is rarely the best one.

The second step is Evaluating Alternative Courses of Action. Once the alternatives are identified, each one must be weighed carefully. Saurabh did not pick randomly. The paragraph tells us: “He assessed the proposals of different companies vis-a-vis earnings per share, tax liabilities, dividends paid, etc. and their future projections.” This is a textbook example of evaluation — comparing each alternative on concrete financial parameters (EPS, tax, dividends) and also on future projections. He was also aware of a key limitation: “knowing fully well that the projections may change if the country's economic policies get modified.” This shows he considered the risks and uncertainties attached to each alternative, which is a crucial part of evaluation. …