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the best way to approach is wait for the boss to be cool down or if needed to approach early than have some good news for the boss than approach him
The best way is not to approach an angry boss or an angry person!! We are talking about a work place and in my personal opinion this would only make a scenes and is bad for peer relations!!
Most people consider managers as superhuman or something divine when in fact they are only human and sometimes need space and need to cool down.
If a manager was too angry and acting unprofessionally then written communication is the best.
Good luck with all of your crazy bosses and managers :)