Well Gorby sort of had a plan, but it was a terribly naive one. He really thought the liberals would be cool with him being a social democrat, but nope, step aside loser. All or nothing.
For Yeltsin and his cronies, the lack of planning was part of the benefit, they didn't want any of the former bureaucrats or factory directors to be part of the process at all. They just gave every citizen worthless "privatization vouchers" that would entitle you to shares in the new private enterprises but they immediately lost all value because of the economic disaster they caused. Oh and they were unlimitedly transferable, so 90% of people just sold them for cash so they could keep eating. Those who were already rich or had political connections to the new government bought them all up and volia- nearly instantaneous economic oligarchy. All the achievements of October, swept away :lenin-rage: