evaluating Management

just curious, which criterias are generally used to evaluate management?

and by that I mean, how do you understand if they know what they are doing or they have no clue. in fact, how can you get to assess, by talking to the actual people, whether they are proficient at sales/marketing/R&D/negotiation with suppliers/etc. I mean these are managerial jobs and it's not like you ask them how they conduct their business specifically.

also, you are not there to judge characters: a CEO with an ego as big as a mountain might be the next Patrick bateman for all you know and, although he might have a hard time listening to guys around him (which could be hugely detrimental in certain circumstances), he could be formidable in reading the industry and positioning his firm in the best possible spot (coordinating all the corporate functions accordingly). and in so doing, it would probably (although not necessarily) create some additional value all things being equal.

I hope I could explain myself!

p.s.: i am posting in the ER forum because management access is pivotal to the ER business and so I assumed that those who actually work in the field must have extremely solid skills and experience in this area.