What is the relationship between planning and the operation of business?

What is the relationship between planning and the operation of business?
The planning of a business is doing research on the type of business you wish to open. Finding a suitable place to open a business. Having a 5 year plan set out for your business, and finding out what it will take to get the business going and how you plan to obtain the funds to start the business. The operation of the business is actually taking everything you planned and putting it motion. You have your day to day operation of the business. Open during business hours for your type of business, managing the finances of the business, paying your employees, vendors, utilities, and other business related expenses. Tracking your profit margin whether your making a profit or losing money in the business. That is the relationship between the two.