Management theories are frameworks that help organizations understand how to effectively manage their resources and people. These theories provide guidelines for decision-making, leadership, and organizational structure. Some well-known theories include Taylor's Scientific Management, which focuses on efficiency and productivity, and Maslow's Hierarchy of Needs, which emphasizes employee motivation and satisfaction. Different management theories can be applied in various contexts, depending on the organization's goals and culture. For instance, Hersey and Blanchard's Situational Leadership Theory suggests that leaders should adapt their style based on the maturity of their team members. Understanding these theories can enhance management practices and improve overall performance.