How to change the behaviour of the notebook when the physical power button is pressed or when the notebook lid is closed?

1. Click the Start button and then click Control Panel.
2. In the Control Panel window, click System and Security.
3. In the System and Security window, under Power Options, click Change what the power buttons do.
4. In the System Settings window, to change what happens when the physical power button is pressed, click the down-arrow next to When I press the power button, and then click to select the desired setting.
5. To change what happens when the notebook lid is closed, click the down-arrow next to When I close the lid, and then click to select the desired setting.
NOTES:

The following options are available for both the power button and lid closure actions:
Do nothing
Hibernate
Stand down 
The power button setting can be configured independently for both On battery and Plugged in. 
      

6. Once all the desired changes have been made, click the Save Changes button.