Arrange the following fundamental stages of the rational managerial decision-making process in their correct chronological sequence:
I. Identification of problems
II. Choice of alternatives
III. Evaluation of alternatives
IV. Search for alternatives Choose the correct sequence from the options given below:

Logical Step-by-Step Sequence: Step 1: Identification of problems (I): The process begins by recognizing a gap between the current state and the desired state, thereby defining the specific problem or opportunity that needs attention. Step 2: Search for alternatives (IV): Once the problem is clearly defined, decision-makers gather information and brainstorm or research various possible solutions/courses of action. Step 3: Evaluation of alternatives (III): The identified alternatives are systematically assessed against established criteria, feasibility, costs, benefits, and potential outcomes. Step 4: Choice of alternatives (II): Based on the evaluation, the most suitable, viable, and optimal option is selected for execution. Conclusion: The correct chronological flow is I → IV → III → II, making Option 2 the correct choice.