Dear Uma,
A vision is not just a long-term objective but an organization's perspective. It indicates what it wants to pass on to the future. It is a crystal clear picture of how one would want to see the organization in the future - say 10 years from now. The vision statement must be such that it inspires employees with a dream and goal besides generating pride in them.
Vision has 2 dimensions:
1. Value-based commitment for overall betterment.
2. Strength to the organization through optimum utilization of resources.
Hope this is of some help to you.
Regards,
RGS.