Business Strategy and Product Vision
The business strategy provides a clear, actionable plan for the business. It describes the initiatives that the business will undertake in pursuit of the company's mission. The business strategy provides the context for the organization's products and services. For the Product Vision, the business strategy should provide the business guardrails for the product to operate within. For example, the business strategy will describe market focus, pricing and value assumptions and have ideas on growth. The Product Vision describes the direction of the product in pursuit of that strategy.
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The Product Vision describes the purpose of a Product. A good Product Vision expresses the value the Product should deliver and to whom that value is delivered.