Final answer:
A cross-functional team is composed of experts from various specialties collaborating on diverse organizational tasks and is essential for addressing complex projects in a rapidly changing business world.
Step-by-step explanation:
The type of team composed of experts from various specialties working together on organizational tasks is known as a cross-functional team. In today's dynamic business environment, cross-functional teams are integral for rapidly responding to changes inspired by technology shifts, economics, and globalization. By bringing together diverse skills and expertise, these teams address a wide range of organization-wide projects and problems effectively. While other types of teams do exist, such as functional, self-directed, vertical, and autonomous teams, the one specifically made up of experts from different fields is the cross-functional team.