Steering (orienting or sliding) is drilling with mud downhole steerable mud motor. Drilling with the steerable motor does not rotate drill pipe because it uses hydraulic power to drive down hole motor and bit. Steering is used in order to control well direction.
Rotating is drilling with Topdrive or rotary table and drillstring is rotated in order to gouge the hole. Rotary drilling will be used when straight hole direction is needed.
Comparing between steering and rotating, steering can create dog leg more than rotating because mud motor incorporating with bend housing is designed to directionally drill to the specified direction; however, when Rotating, BHA is stiffer and has tendency to hold the direction.
Rotating ROP is always faster than steering ROP by these following reasons:
• Friction force exerts on stable drill string when steering is always more than rotating.
• When steering, WOB is limited. Motor can be stalled or worn out if WOB excesses.
• Direction of well must be controlled carefully that means well can not be drilled faster.
Reference books: 
Directional Drilling Books
