Shiv Nadar, chairman and CEO of HCL attributes the success of the group to its management team and their entrepreneurial spirit which together have enabled it to handle rapid changes in the environment and technologies. At HCL management believes that happy, satisfied and self motivated employees help in reducing costs and increase productivity. It also has a strong sense of social responsibility and has set up educational institutions in the field of management, engineering, computers etc.
Identify and explain the significance of understanding management by quoting relevant lines from the case study.
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