⟩ In the past three to four decades, many management theorists, and writers have made remarkable contribution in the study of management. By studying the various approaches to management analysis, we can understand the concept of management and have a better understanding of managerial functions. Which approach to management emphasizes managing people by understanding their individual psychological needs? a) Empirical Approach b) Decision Theory Approach c) Management Science Approach d) Interpersonal Behavior Approach e) Contingency Approach.