Strategy is a relatively young field as compared to other areas of management. Due to various reasons, the concept of strategy is often misunderstood and infact is misused many times. This makes it imperative to know what strategy is and what it is not. In India, strategy consultancy is a very young field and is still evolving. However, it is a lucrative and growing field as increasing number of organizations are realizing the importance of strategy and are hiring services of strategy consultants. This makes it imperative to know and understand strategy consultancy.