A basis for every good product is a convincing vision for the future you aim to create and the objectives for the organisation. This should not be limited by the current working practices and structures, but should strive to be what is needed to meet the goals of the user and the company.
The Product vision describes the long-term goal of a Product and what it aims to achieve for users. Think of it as the mission statement for your product.
A good question to ask yourself is, if you looked back in 3 years time, what would you like the reviews to say about it
Product vision and product strategy are similar, but they are separate things. Your vision should focus on what you want your product to achieve. Your product strategy explains how you will make that vision a reality.
Your product strategy should not be limited by the current structures and practices. If it requires radical change, then you should be working to make this happen.