The field of homogeneous catalysis has grown dramatically over the past decade, boasting many new applications in the chemical, fine chemical, and pharmaceutical industries. This timely work offers a unified, easy-to-understand treatment of this challenging area of chemistry. With a practical emphasis and a thorough, selective survey of current literature, the authors present homogeneous catalytic reactions proven successful in industrial applications-illustrating both the mechanistic principles and illuminating new areas of academic and industrial research.