Step 1: Meaning of planning.
Planning is the process of deciding in advance the objectives to be achieved and the course of action to be followed to achieve those objectives.
Step 2: Steps involved in planning.
The planning process includes setting objectives, identifying alternatives, evaluating alternatives, selecting the best alternative, implementing the plan, and finally follow-up action.
Step 3: Evaluation of options.
(A) Evaluating alternatives: This is not the last step.
(B) Selecting an alternative: This precedes implementation.
(C) Implementing the plan: This is followed by monitoring and review.
(D) Follow-up action: This is the final step which ensures corrective measures if required.
Step 4: Conclusion.
Hence, follow-up action is the last step in the process of planning.