The Osgood-Schramm Model of Communication is a theoretical framework developed by Charles Egerton Osgood and Wilbur Schramm in the 1950s. It describes communication as a dynamic process involving a sender who encodes a message, a channel through which the message is transmitted, a receiver who decodes the message, and feedback that completes the communication loop. The model also incorporates elements such as context, noise, and the field of experience, highlighting the complexity of human communication interactions.