Management theories are frameworks that help leaders and organizations understand how to effectively manage people and resources. These theories provide guidelines for decision-making, communication, and motivation within a team. For example, Frederick Taylor's Scientific Management emphasizes efficiency and productivity through systematic processes, while Elton Mayo's Human Relations Theory highlights the importance of employee morale and social interactions. Different management theories can be applied depending on the organization's needs and goals. Henri Fayol's Administrative Theory focuses on the principles of management, such as planning and organizing, while Peter Drucker's Management by Objectives encourages setting clear goals for better performance. Understanding these theories can lead to improved workplace dynamics and success.