Definition of a Vision Statement is a future based look at where the team should be heading. It should cover: what the product is, what it will do, and how it will be accomplished.

At the start of an Agile squad’s formation, they go through phases of forming, storming, norming, and performing.  It is all about coming up expectations that everyone within the team can buy in.  The Scrum schedule plays into that in a big way.