Also, huge corporations are themselves extremely centrally planned, and that is where much of their strengths lie. There's a reason why Apple was able to capitalize on the smartphone, and it wasn't some market of suppliers.
The problem with centralized planning is that it tends to ignore many local concerns, often with disastrous consequences, especially when leaders start to ignore any feedback from below in their central planning. This has caused the downfall of innumerable companies in various markets, but there is usually another company to take their place. When used by countries, it causes famines and other avoidable disasters, as happened in much of the USSR and China, especially under Mao's monstrous regime.
But when done right, as it was in China after the 90s and before the Pooh, it has also caused the single biggest reduction in poverty in world history, measured by number of people.
