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1.
When a company waste their employees time when a person or group of people can't get along with others.
Justine fights with everyone, so we have to go to a team building exercise.
by Peteybuf October 26, 2006
 
2.
Typically just a corporate term for a piss up.

The act of spending company dollars on booze in an attempt to make a work team get on better.

Likely to backfire and actually break down a team due to the free nature of the booze and it's much-loved disinhibition, coupled with an abhorrence of your colleagues. Watch out for a drunkfession, drunkfrontation and an assortment of drunkidity.

Crafty managers have been known to use this as a ploy to remove a disliked employee.
So you understand that your behaviour at the team building exercise was in breach of your employment contract and our code of donduct, so we have no choice to terminate your employment.

(Cheers in next office quickly muffled by bacon & egg rolls)
by Greeenie June 16, 2011