Riordan Manufacturing: Intellectual Capital and Knowledge Management

1107 Words4 Pages
RIORDAN MANUFACTURING 3 Riordan Manufacturing: Intellectual capital and knowledge management Introduction Intellectual capital (IC) and knowledge management (KM) have become critical buzzwords in the business lexicon. This is particularly true of companies such as Riordan Manufacturing, a company which produces high-tech, cutting edge materials for the plastics industry and sells them to a variety of firms around the world. This paper will survey how Riordan currently deploys these concepts and also explore potential areas for future improvement. IC: Vision and strategy Intellectual capital consists of three critical components: human, structural, and relational capital. For Riordan, its human capital, or "the availability of skills, talent and know-how of employees that is required to perform the everyday tasks that are required by the firm's strategy" that is particularly vital the firm's survival (Talukdar 2008). Also related to the maximization of such human capital is the appropriate use of structural capital, or "the availability of information systems, knowledge applications, databases, processes and other infrastructure" that enable employees to leverage their knowledge (Talukdar 2008). Finally, relational links between suppliers and customers to support clients enable the human and structural components of the firm to yield financial value in the form of sales. As a cutting-edge plastics company that sells directly to businesses based upon its quality,

More about Riordan Manufacturing: Intellectual Capital and Knowledge Management

Open Document