Financial success is of significant importance to every business. However, if financial success is the only measure of performance used, then it can be short sighted. It is similar to looking in a rear view mirror. It shows what has happened but is often of little value in predicting the future. Peters & Associates advocates a balanced approach in measuring performance.

A balanced approach would be based on the specific goals the business has set, but would generally consider goals and measures related to the following areas:

• Customers
• Employees
• Financial Performance
• Environmental Sustainability
• Technology, Research and Innovation

Peters & Associates has worked with both for-profit businesses and with not-for-profit organizations to develop goals, objectives and indicators. Most often this has been part of a business planning exercise.