Business consulting has evolved as a distinctive professional field shaped by historical economic transformations, changing organizational needs, and the progressive sophistication of managerial knowledge. From its early emergence alongside industrial capitalism in Europe to its contemporary role in digitally transformed economies, consulting has continuously redefined its value proposition, methods, and epistemological foundations. This article develops an original, theory-driven analysis of the historical evolution, strategic orientation, and methodological underpinnings of business consulting, with a particular focus on Europe and small and medium-sized enterprises. Drawing strictly on established economic histories, consulting practice literature, and information systems research, the study integrates macroeconomic context with micro-level consulting practices. The paper adopts a qualitative, interpretive methodology grounded in case research traditions to synthesize insights from economic history, pricing theory, professional services strategy, and digital transformation studies. The findings reveal that consulting has transitioned from expert-driven advisory models toward value-based, customer-centric, and digitally mediated forms of engagement. This evolution reflects broader shifts from industrial to knowledge-based economies and from hierarchical management to networked organizational forms. The discussion highlights theoretical implications for understanding consulting as both an economic institution and a knowledge-intensive service, while also identifying limitations related to contextual dependency and methodological generalizability. The article concludes by outlining future research directions that address the increasing complexity of consulting in digitally transformed and globally interconnected markets.