Management audits offer various and immediate benefits both for the company and the executive managers.
Management audits enable transparency regarding management competence and potentials. They offer the possibility for reliable comparisons to other companies regarding structure and quality (benchmarking). Furthermore management audits serve as an uncommitted basis of decision-making for the assignment and development of executive managers.
Management audits guarantee a fair analysis and status quo definition through a neutral third party. Due to the individual feedback regarding his/her personal strengths and weaknesses the executive manager has the ability to establish a verified basis for his/her further career-and personal development.
Classical fields of application of management audits are:- Merger and restructuring processes focussing on how positions should be filled in general.
- Benchmarking / Due diligence analyses for the determination of the company’s position among competitors compared to best practice.
- Drawing up significant management statements following changes in strategy.
- Advising the company on development and succession planning processes.