Team is a group of people with differentiated skills, who are linked in a common, collective goal and team work is the process of working within these teams. For the success of organization and individuals, teamwork is requisite and the team need to have certain interpersonal knowledge, skill and abilities. This helps in clear communication. A team will have collective idea of all its members and thus performance also will be high compared to the works done individually. There are basically two types of teams i.e. formal teams and informal teams. Formal teams include functional teams, cross-functional teams, and self managed teams. Most of the organizations are part of one or different types of teams. Organizations apply the most appropriate and efficient type or management technique for their successful administration. A team has to proceed through five stages to grow; forming, storming, norming, performing and adjourning. Strength and weakness of a team has to be assessed when leading the team. A team success can be hindered due to wrong leadership style at the wrong time. So it is vital to select the efficient and the right team leader. The leader has to continuously evaluate the performance of the team to make improvements. Decision making plays a vital role in self-managed team. Team members should accept provide their ideas and they should accept criticism. There may be conflicts within the team which has to be supervised and reconciled for the further advancement and