The Hersey-Blanchard Model is a leadership theory that emphasizes the importance of adapting leadership styles based on the readiness and maturity of team members. It identifies four main styles: directing, coaching, supporting, and delegating. Each style corresponds to the level of support and guidance a leader should provide, depending on the team's ability and willingness to perform a task. This model helps leaders assess their team's needs and adjust their approach accordingly. By recognizing the varying levels of readiness, leaders can foster a more effective and motivated team, ultimately leading to better performance and outcomes in any organization.