The Management Audit.
The Management Audit as developed by the American Institute of Management may be defined as a procedure for systematically examining, analyzing, and appraising a management's overall performance. To determine this overall, performance, the Management Audit combines the evaluation of ten categories of appraisal, each a determination of the worth of the subject management in one category of the analysis, viewed historically and in comparison with other organizations. The Management Audit concepts were originally developed as a tool for investment appraisal. Within the past fifteen years, however, their use has been expanded to cover virtually all kinds and sizes of business organizations, as well as non-profit enterprises ranging from individual hospitals and colleges to the world-wide operations of the Roman Catholic Church. As applied to a business organization; the Management Audit presents the qualities of the subject management relative to those of other managements in its particular industry, as well as in relation to the finest managements in other industries.