Progress in the theoretical description of B-meson decays, in particular
decays to light hadrons, is reviewed. The factorization properties of such
decays can be analyzed using the soft-collinear effective theory. Applications
of the effective theory to both inclusive and exclusive decays are discussed.Comment: Talk presented at the 15th Topical Conference on Hadron Collider
Physics (Michigan State University, June 2004) and at the 11th International
QCD Conference (Montpellier, July 2004). 14 pages, 4 figure
