Scrum is an agile framework for managing product development that focuses on quality, collaboration, and adaptability over rigid adherence to processes or plans. It emphasizes frequent inspection and adaptation, self-organizing cross-functional teams, and transparency. Key aspects include prioritizing a backlog of features based on business value, conducting short development iterations called sprints, and daily stand-up meetings for teams to share progress and issues. The goal is to deliver high quality, valuable software more quickly through an adaptive process of continuous improvement.