One of my close friends asked me this question recently. I thought I’d share the same here.
Actually the difference is not very much. Its more like when you talk about presales in IT. Some people think of presales as supplementary salespeople who don’t do anything technical, while others consider them completely technical solution architects with no role in sales.
My take on the difference between Management and Business consulting is this:
Management Consulting is more in terms of the management of the organization, that is, the business processes and procedures, "how the business is run". So typically a management consultant will advise on the improvement of business processes, streamlining of procedures and removal of redundancies to make the business run more efficiently.
Business consulting, on the other hand, is more about the business itself, "what the business is doing". This is more strategic advisory services which deal with what businesses the organization is in, how it should carry out its business more effectively, what strategic changes does it need to make. Typical decisions on which business consulting happens would be – Should the company merge with another company?, Should a new product line be launched?, Should we have an IPO or take more loans?
Would love to hear comments about this.