Cloud computing has become an increasingly popular means of delivering precious IT enabled business services. Customers and end users access the IT services catalog through self-service portals, using and paying for only those services they need, when and where they need them. When an organization adopts cloud computing it quickly becomes apparent that the traditional approach to IT service management frameworks such as information technology Infrastructure Library (ITIL) needs to be reviewed. This paper is focusing on the ITIL service strategy process and the impact of cloud computing on its sub processes implementation.