Purpose: The purpose of this paper is to explore the impact of a specific category of organizational values on organizational effectiveness. Specifically, the aim of the paper is twofold: to propose a metric scale for assessing the organizational values, and to find the impact that different categories of values have on the overall effectiveness of the organization, as an overall measure of organizational success. Moreover, this second objective is expanded with the moderation between values and effectiveness when different balanced scorecard (BSC) perspectives are attended in a balanced way. Design/methodology/approach: The methodological approach is empirical, based on surveying employees – in total 813 valid responses were obtained, alongside with other information sources within 24 companies in the Republic of Croatia. A set of analyses using structural equation modelling were conducted in order to: define a scale to assess organizational values, assess the impact of different categories of values on organizational effectiveness, and assess the moderator role of the balancing attention to stakeholders. Findings: The findings show that construct of organizational values is multifactorial, composed by business, relational, development, and contribution values. These values categories (except relational values) are significant antecedents of effectiveness. Moreover, the balancing of the attention paid to different BSC perspectives moderates the impact of the contribution values on effectiveness. Originality/value: The present study sought to expand the understanding of organizational values and their impact on performance and to ask if focussing on a specific category of values can increase the overall level of organizational effectiveness.