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Sir Arthur Knight began his working life as a clerk at Sainsbury's, taking evening classes at the London School of Economics and graduating with a first class degree in commerce. He spent a year in the Department of Business Administration before joining Courtaulds as a junior economist in 1938. During World War Two, Knight served in the Army, returning to Courtaulds after his service and becoming finance director in 1961. He was a key player in the opposition to ICI's takeover of Courtaulds during the 1960s. Knight became deputy chairman in 1970 and Chairman in 1974. After leaving Courtaulds, Knight became Chairman of the National Enterprise Board but resigned in 1980 after only one year. During his career Knight took a keen interest in management education and helped to set up the Manchester Business School, serving on its council for several years.
After retirement Knight served on several Government committees and the executive committee of the National Institute of Economic and Social Research. He was a member of the LSE Court of Governors from 1971-1994 and became an honorary fellow in 1984 and pursued his interests in business history, management education and industrial policy.