Flipped classrooms have been recognized as a potential approach that enables students to have flexible time to learn before the class as well as more opportunities to apply knowledge and to interact with peers and the teacher in the class. On the other hand, researchers have pointed out the challenge of engaging students in self-regulated learning and active participation in flipped classrooms. In this study, an Instant Response System (IRS)-facilitated collective issue-quest strategy is proposed for engaging students in active and self-regulated flipped learning. Moreover, a quasi-experimental design was conducted with undergraduate students in an internet marketing course in northern Taiwan to investigate the impacts of the proposed approach on the students' learning achievement, self-regulation, learning satisfaction and collective efficacy. The experimental results revealed that the learning achievement, collective efficacy and satisfaction of the students who learned with the proposed approach were significantly better than those of the students learning with the conventional flipped classroom approach. Moreover, in the "environment," "task strategies" and "help seeking" dimensions of self-regulation, the former had significantly higher ratings than the latter. This study contributes analysis results that highlight the benefits of implementing the IRS-facilitated collective issue-quest approach in the flipped classroom. The results of this research may provide a valuable reference for future studies and practice in the field.