This chapter explores the challenges of business innovation and the content of the chapters of this book. This book has two objectives that set it apart—it seeks to address the changing nature of innovation and its implications for managers and management practices and it seeks to provide an integrated and practical approach to bringing innovation to market. In discussing innovation it would be useful to have a classification scheme that distinguishes between the many different types and degrees of innovation seen in products, services and business models. This scheme would provide a common terminology for discussing which management approaches might be best for different types of innovation. A useful scheme would also allow firms to assess the degree of challenge one might face in completing a specific project. This is important for both resource allocation and risk management.