Which term refers to informal communication that often occurs in social settings within a company?

The term that refers to informal communication often occurring in social settings within a company is grapevine communication. This type of communication typically happens outside the official channels and can involve sharing news, gossip, or information among employees in a casual manner.

Grapevine communication is significant because it can affect employee morale, influence perceptions, and spread information rapidly. It serves as a way for staff to connect socially and exchange feelings or opinions about workplace dynamics, which can sometimes be just as impactful as formal communications.

In contrast, the other choices involve more formal structures and processes. Formal networks refer to established channels of communication within an organization, structured meetings are organized get-togethers aimed at discussing specific topics, and systematic reviews are systematic evaluations of processes or performance. None of these options encapsulate the informal and spontaneous nature of the grapevine method of communication found in social settings within a company.