1. a stimulus triggers the voltage-gated sodium channels to open, allowing sodium to diffuse into the cell. if the stimulus is too small then the 'all or nothing' threshold won't be achieved, and the action potential will fail to initiate. if the stimulus triggers sufficient opening of transport channels and sodium diffusion into the cell then a full action potential is generated.
2. depolarisation
3. repolarisation
4. hyperpolarisation
5. once the membrane potential reaches its resting homeostatic concentration and chemical gradient, voltage-gated channels close, and cell awaits next stimulus.