In the context of any organisation, be it a company, a charity, or a hobby group, the word "power" refers to management. Since the question was filed under the business category, I will discuss the importance of management within the context of a company.
Without management, there would be no one to determine what the right course of action would be in any scenario. To demonstrate why power is so important in the context of a business, I will mention five points.
Firstly, without management structures in place, there would be no one to make decisions about hiring new staff. This means that the the company's growth would be hindered.
Secondly, on the flip side of that coin, there would be no one to make decisions about disciplinary matters and to decide what constituted undesirable behavior or offenses for which staff members could be fired.
Thirdly, with no management structure, there would be no one to determine what stock needed to be ordered and what needed to be done in order to keep the business running.
Fourthly, having no management would mean that staff members are not held accountable. In this scenario, it is very likely that little to no work would get done, and this would ultimately lead to the failure of the business.
Lastly, with no one designated to solve disputes, internal conflicts within the company would skyrocket.
In a nutshell, power—provided that it is not abused—is critical for the operation of any successful business.