Recession or boom, goals play a very important and similar role in a company's planning.
Simply put, goals are the results a company wishes and tries to produce, and planning is the process of deciding the means and methods of achieving the goals. Unless there are goals to be achieves, there is no basis for deciding what course of action is appropriate and what is not. Unless we know where we want to go, we cannot decide if a road we take is the right or wrong one.
The only difference in relevance of goals in time of recession and boom is the nature of goals. In boom time the goals may be more growth oriented, whereas in time of recession it might be better on goals of consolidating the business and tiding over the difficult times.