India is increasingly being hyped as an emerging economy. There are various predictions which show India will be one of the leading economies in the global knowledge. The knowledge economy, which is increasingly dominated by services sector, needs and depends on knowledge workers. Institutions of higher learning, like business schools (B-Schools), have a critical role in creation of knowledge and supply of knowledge workers. B-Schools are going to face a lot of challenges and opportunities in the global knowledge economy. The big issue is how to compete in this changed scenario and take advantage of emerging opportunities. To take advantage of these opportunities and fight the competition Knowledge Management (KM) could be the best tool for B-Schools. Knowledge management is globally accepted tool for creating sustainable competitive advantage. This paper tries to emphasis how KM in B-Schools can be an effective tool for competing in the emerging global scenario.
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