Pithy slogans belong on coffee mugs. Real vision statements guide your organization's strategic goals.
Vision Statements Defined
According to a Wikipedia entry:
[A vision statement] outlines what the organization wants to be, or how it wants the world in which it operates to be (an "idealised" view of the world). It is a long-term view and concentrates on the future. It can be emotive and is a source of inspiration. For example, a charity working with the poor might have a vision statement which reads "A World without Poverty."
However, simply expressing a desire to be "working toward to (sic) high quality standards and efficiency" is so generic and semantically null as to be irrelevant. It might help guide your group's development of process, or be good grist for the mill during a retrospective, but it isn't really a vision.
Good Vision Statements
According to one source, good vision statements should focus on "what your business does and what...you would like it to do[.]" Your boss's generic slogan doesn't measure up in that regard, even though it's probably a worthwhile team objective.
By all means, develop high standards (which you can then include in your "definition of done") and improve your efficiency in some measurable way. Those are certainly worthwhile goals for any project. These vague procedural objectives don't really amount to a vision statement, though; the tenets are myopic at best, and are not intrinsically inspiring or reflective of a strategic goal.