Stepping around is when the ball comes to your midsection or backhand side and you step toward the backhand side in order to return the ball with your forehand (usually a loop or smash).
Stepping around is very useful when you have a strong forehand since it allows you to finish the point where you might have difficulty doing it with your backhand. Most people have a forehand that is more consistent or more powerful than the backhand so stepping around can be very effective.
Stepping around can also be dangerous as it often leaves the forehand side open, so a fast block to the opposite corner will leave you out of position and unable to return the next ball.
If you\'re going to step around and loop, you need to make it a good loop. A weak, slow loop will be easy to block, especially to block to the corner. When a ball comes to your backhand corner and you step around to loop it, it is often safer to aim diagonally to the right (assuming you\'re a righthander) because when the opponent tries to block it and direct it to the open corner, it\'s often still within your range. If you aim for the left corner, the opponent can aim for the open side with a wider angle, putting the ball out of reach.
So when you step around, you should either finish the point, or generate a very strong topspin that is hard to control, and aim for the right corner (if you\'re a right-hander; opposite for left-handers).
There are many footwork drills to improve your step around. One example is the Falkenberg Drill. See it in the Drills section of the Coach Wiki.
Since stepping around leaves you out of position, it is important to have good footwork and a strong forehand. Either one of these missing will leave you in trouble. A weak forehand will be easy to block aggressively while you're out of position, and slow footwork also leaves you unable to get back into position.
If you're sure you can finish the point (ie: the opponent is out of position and has a wide area open) then stepping around to smash or loop kill can be a good move.
If you have a weak forehand or slow footwork, you may want to avoid stepping around altogether. It may be wiser to use your backhand instead of stepping around, so you'll still be in good position for the next ball.
These are sub-pages of the Stepping Around page (a child in the hiararchy).