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What is "Developing premises " in Planning process? Explain in detail

The answer given by Lakshmi is correct. This topic has been covered in our NCERT solutions as well. You can refer the same in Business Studies - Chapter 4- Long Answers- Ques 3. The following is the link for the answer.
http://cbse.meritnation.com/cbse-business-studies-principles-and-functions-of-management/planning/682/3722/ncertsolutions.html

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developin premises s making certain assumptions for de organisation!!

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Premises refers to the assumptions regarding the future conditions which may affect the attainment of plans. Premises provides important forecasts relating to the future which may affect the business. So the business must make strong assumptions.

For example: IBM made forecast of the 3rd generation computer system which stood as a bench mark.

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