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 studystudy
Answers
Explanation:
Shiv Nadar, Chairman and CEO, attributes the success of the group to its management team and their entrepreneurial spirit, which together have enabled it to handle rapid changes in environments and technologies, and to transform threats into opportunities. ... It has risen to the top because of its quality of management.
1."Shiv Nadar...entrepreneurial spirit" - Management helps in achieving personal objectives
A good manager motivates and leads his team in such a way that all the members are able to achieve their personal goals.
2. "enabled it....technologies" - Management creates a dynamic organisation
With changing environment, management reviews its goals, changes its business strategies and adapt new technologies.
3."At HCL...productivity" - Management increases efficiency
Aim of every manager is to reduce costs and increase productivity through planning, organising, staffing, directing and controlling the activities of the organisation.
4. "It also has...computers" - Management helps in the development of the society
Management of an organisation directly or indirectly helps in the development of the society through the services they provide.: