The Balanced Scorecard (BSC) is a strategic planning and management system that was created in 1992 by Robert Kaplan and David Norton of the Harvard Business School. The BSC helps clarify an organization's vision and strategy, and translates them into measurable objectives in four important perspectives: financial, customer, internal business processes, and learning and growth. It provides a framework for aligning business activities to the organization's strategic goals. The BSC also allows organizations to monitor performance against strategic goals through appropriate metrics and strategic initiatives. The execution of a BSC involves six stages: developing the strategy, planning the strategy, aligning the organization, planning operations, monitoring and learning, and testing and adapting.