Leaders are widely exhorted to employ visions, yet surprisingly little research has been conducted on what constitutes an “effective” vision. A research model is proposed for investigating relationships between vision components, and business unit performance as measured by employee and customer satisfaction. The model, expressed both graphically and as three propositions, proposes that vision attributes of brevity, clarity, abstractness, challenge, future orientation, stability, and desirability, plus vision content relating to employee and customer satisfaction, can directly affect performance. However, the model also predicts indirect effects on performance mediated by six realization factors and two intervening variables.