VMware and OpenStack are cloud platforms that provide virtualization and management capabilities. VMware uses vMotion for live migration, DRS for resource scheduling, and vSphere for storage and network management. OpenStack uses KVM for live migration, Nova scheduler for resource scheduling, and integrated services like Nova-volume and Quantum/Nova-network for storage and network management respectively. While both support live migration, security groups, and integration with solutions like Cisco Nexus 1000V, VMware provides more proprietary and centralized management capabilities compared to OpenStack's open source-based modular approach.