Scrum is an adaptive framework for product development that involves self-organizing cross-functional teams working in short iterations to deliver working software. Key aspects of Scrum include short "sprints" where work is planned and tracked in a backlog, daily stand-up meetings, sprint reviews to demonstrate completed work, and retrospectives to improve. Roles include the Product Owner who prioritizes features, the Scrum Master who facilitates the process, and the Development Team who does the work.