Conflict management involves identifying and resolving conflicts using effective communication, problem-solving, and understanding each party's interests. There are different types, sources, and stages of conflict. Conflicts can be handled using various styles such as competing, collaborating, compromising, avoiding, or accommodating. Productive conflict can lead to better solutions and innovation, while unresolved conflict can damage relationships and performance. Effective conflict resolution requires understanding the perspectives of all parties and finding a mutually agreeable solution.