The Retrospective is the Scrum event in which the team reflects on its own working process. What went well, what should change, and what concrete actions follow from those insights? It takes place at the end of each Sprint, before the next Planning. The Retrospective is the central instrument for continuous improvement, because without it a team stays with its habits even when those habits no longer serve it.
There are numerous formats that bring variety to the reflection. In the Sailboat format, for example, the team identifies wind that propels it forward, anchors that hold it back, and rocks that represent risks. What matters is not the format but that concrete, actionable improvements emerge at the end. A good Retro produces one to three changes that are tried out in the next Sprint. Teams that fail to follow up on Retro outcomes quickly lose trust in the process.
The format traces back to the Scrum Guide and was significantly shaped by the book Agile Retrospectives by Derby and Larsen. Psychological safety within the team is a prerequisite for honest reflection.