Defines a desired reality that has yet to come into existence.
A "live" vision is one that an institution aligns its activities, decisions, and resources to achieve.
In its most evolved state, the vision is specified enough to provide real guidance on how people should spend their time, yet general enough to encourage initiative and innovation, thereby remaining relevant under changing conditions.
The vision should be meaningful, inspiring, and energizing to all those who will play a role in achieving it, and, it should be a real stretch. Otherwise, it is just a goal.