Bowen's Family Systems Theory conceptualizes the family as an emotional unit where the relationships between members are interdependent. Changes within one member can impact the entire family system. Key concepts include differentiation of self, triangles, the nuclear family emotional system, and multigenerational transmission of differentiation levels. The goal of Bowen's therapy is to reduce anxiety and raise each family member's level of differentiation through addressing symptoms like projection, triangulation, and fusion.