In recent years, the words - knowledge and managing knowledge are at the core of management thinking. Scholars and business strategists are trying to explore the real nature of knowledge and its management from the organizational competitiveness point of view. Organizations, irrespective of the nations and regions are facing a difficult problem in making their businesses more competitive and sustainable. In the changing business context, organizations need to adopt a dynamic approach which can make them flexible and self-motivated. Knowledge-based view proposes that knowledge can make an organization more adaptable through developing new competencies. Eventually, the ability of developing new competencies provides a competitive advantage in the long-term. This paper is exclusively involved in developing a knowledge strategy framework. This framework focuses on a strategic linkage between knowledge creation and business processes. This thematic paper equally emphasizes the people dimension of a business
