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The relevance of the study depends on addressing to the issue of knowledge management in learning and instructing students of post-Soviet sector universities. In this regard, the article is intended to reveal the nature of knowledge management approach compared to the knowledge-based one predominated in Soviet education. The flagship approach of this study is the systemic-activity approach to explain knowledge management advantages for learning and instructing social disciplines in sector universities. The relevant literature is reviewed to show evolution of approaches. It is stated that knowledge reflecting specificity of an industry may be defined as industry-oriented and can be represented by a new international web standard (ontology). To determine significant factors for knowledge absorption with the proposed approach an experiment was conducted. The results prove the didactic potential of ontologies, so the knowledge management approach is considered promising. This article may be of practical interest for professors of sector universities.