It is formed when there is a need to gather and balance information from every single department.

Advantages:
Increase creativity and problem solving
Diversified experience, expertise and knowledge
Broaden perspectives and create synergy
peed up the overall circle time by reducing sequential knowledge from different level of organizations and reduce rework 

Disadvantages;
Take longer time to develop cohesion
A high level of conflict
Conflict of interest from different departments

Pros:
- Fosters creativity and learning
- Compliments everyone's strengths
- Builds trust
- Conflict resolution skills
- Encourages healthy risk taking

Cons:
- Longer process
- Limiting creativity
- Unequal participation

A group of people working together in their own ways, toward a common goal, which is defined outside the team. 
 
Self-managed teams have grown rapidly in popularity following their introduction in the 1960s. Around 80 percent of companies in the Fortune 1000 and 81 percent of manufacturing companies use self-managed teams within their organizational structure 
 Companies favor self-managed teams as they offer cost savings and increased productivity, if implemented effectively. However, self-managed teams aren't the right fit for every company. The best-performing self-managed teams are found in companies where the organizational culture clearly supports decision-making by employees. 

pros:  
Self-managed teams have greater ownership of the tasks they perform and the end product or service they deliver 
 Self-managed teams tend to be loss costly and more productive than employees working within a traditional hierarchical structure because the team performs both technical and management tasks. Team members may also fill in for each other to cover holidays and absences. Decisions made by self-managed teams are more effective because they're made by the people who know most about the job. 

 

Cons;

Although a cohesive self-managed team may create a sense of trust and respect between team members, overly cohesive teams can lead to "groupthink": 
Team members are more likely to conform with team norms than raise issues that may upset other team members. This may lead to reduced effort or stifled innovation