England Under-21s winger Redmond is one of the Canaries' most coveted talents and there has been speculation of a switch away from Carrow Road following the club's relegation to the Sky Bet Championship.
Balls told Norwich-based The Pink'un: "Nathan is showing his stuff out in the Under-21s (Toulon Tournament) at the moment, scored a great goal last night and I think everybody at the football club wants to keep all of our players - and our best players - with us into the Championship next season.
"As (manager) Alex Neil has said, the reality is there are going to be people looking at what's happening at Norwich.
"But we have no need to make any short-term, foolish decisions that are bad for the best interests of the football club - and we're not going to be doing that."
Balls also revealed Norwich are using a head-hunting firm to find a new chief executive.
David McNally resigned from the role earlier this month.
"We decided to get the best to help us, and that means we don't just have to wait to see who comes to us," Balls added.
"But also we will go out and look right across the whole football world and potentially more widely - although I think we're looking for deep football experience - to make sure we get the best."
Source : PA