The correct sequence of planning steps is:
(C) Setting objectives: Defining what the organization aims to achieve.
(A) Developing premises: Establishing the assumptions or premises under which the plan will operate.
(D) Identifying alternative courses of action and evaluating them: Finding different ways to achieve the objectives and assessing them.
(E) Selecting an alternative: Choosing the most suitable option from the alternatives.
(B) Implementing the plan: Executing the chosen plan.
This sequence ensures a logical progression from goal setting to execution in the planning process.