Planning is essential not only for business managers, but for any profession. Imagine trying to get somewhere you do not know without a map? This is the principle of planning: To make a good map towards business success.
The ultimate rationale behind planning is to create a mission, a vision, and a common goal. That is the only way that the business will thrive and survive the changes in economic turmoil.
When one plans activities for businesses, we are keeping the goal, the mission, and the vision in mind. Whenever the business has any slumps, all you need to do is revert to those three elements and chances are that the business will succeed and withstand any problems. In all, mapping and planning are about preparing for success.