Conservative management is a form of management focusing on non-surgical treatment options, used most commonly when it is the weekend or just really nice out.
General Surgeon (on the phone, Friday afternoon): An acute abdomen, probably from perforated bowel, so you say... (Surgeon looks outside, realizes it's beautiful outside.) Try some antibiotics, admit to Medicine, and we'll come by on Monday. That's right, conservative medicine, baby! (Surgeon slams phone down in victory.)