On October 27–28, 1961, the Harvard Business History Group sponsored a conference devoted to the theme “Business History as a Teaching Challenge.” The purpose was simple enough — get experienced, active practitioners in business history together with newcomers to the field in the expectation that interaction between the two groups would be mutually beneficial. This hope was realized, though the specific results were somewhat different — and perhaps more valuable — than those originally anticipated. The 50 participants found themselves more involved with a discussion of the appropriate subject matter of business history, past accomplishments, and future possibilities, than with current teaching problems and techniques. This development was not totally unanticipated, but the enthusiasm with which it was embraced came as a pleasant surprise. It therefore seems appropriate to precede the papers given at the conference with a brief summary of the present status and future prospects of business history in the light of the discussion and the written comments later submitted by participants.