The Group for Office 365 is more of a new way to call a Team Site.
Although it is a distribution list, just like and Outlook group, it has the following features just like any other SharePoint site:
· Document Library for storing and working on group files and folders
· OneNote notebook for taking project and meeting notes
· Planning tool for organizing and assigning tasks and getting updates on project progress
You can find more information right here in Microsoft’s site:
Groups have a similar life-cycle to any other SharePoint site:
To determine whether the groups are the right solution for your business need and organization, you can use this wonderful blog post:
As in any SharePoint site, prior to opening the group, there are few things that have to be established for the process:
Good luck and share the group experience with me!
(was published in Quora )