Sonam started a telecom company in New Delhi. His big goal was to connect with 90% of the people in India within a year. He believed that the need for internet services would increase a lot in the next 5 years. To make his ambitious plan work, he had to decide whether to buy an existing telecom business, team up with others, or compete on his own, dealing with strong competition. To make the right choice, he looked at proposals from different companies. He compared things like how much money they make, their taxes, and the dividends they pay. He also looked at their future plans, knowing that these could change if the country's economic policies shift.

Which step of planning process is highlighted in the lines?

'He believed that the need for internet services would increase a lot in the next 5 years.'

Developing premises

The correct answer is option 2 i.e. Developing premises.

Sonam chose this business on the belief that the demand for data services will increase within the next 5 years. He assumed about the future which is called premises. So, the developing premises is the step which is followed by the company.