Microsoft Groups is a collaboration suite, equipped with a shared inbox for email conversations between members, a shared calendar for scheduling events related to the group, shared OneDrive space as a central place for the group to store and share files, and a shared OneNote notebook for gathering ideas, research, and information.
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Microsoft 365 Groups allow you to set up a collection of resources to share, including a shared mailbox and calendar, a SharePoint site with a OneNote notebook, and a Microsoft Planner among others.
This article discusses using Microsoft Groups and the components available within the group.