This document discusses the contingency approach to management. It provides definitions and explanations of contingency theory. Some key points: - Contingency approach argues there is no single best way to manage and the approach should depend on the situation. - It recognizes management and organizational structures are influenced by internal/external factors and the environment. - Major contributors to contingency theory developed the idea that leadership effectiveness depends on situational factors. - The approach aims to understand relationships within/among organizational subsystems and with the environment to design appropriate structures for specific situations.