This article introduces a challenge-feedback learning (CFL) approach based on the goal-setting theory of human motivation, the deliberate practice theory of expert performance, and findings from the research on active and collaborative learning. The core of the teaching concept is the CFL cycle in which students repeatedly progress through four steps ("Challenge-Act-Feedback-Reflect"). Upon completion of one cycle, a new, more complex challenge is introduced in which students have the chance to go beyond their current skills level. The article also presents an example for an implementation of the CFL approach in an international business (IB) curriculum. The CFL approach is particularly useful for acquiring the problem-solving, adaptation, communication, metacognition, and intercultural teamwork skills needed in IB practice.