Office 365 Groups is the foundational membership service, that drives all teamwork across Microsoft 365. Once in a group, we can get the benefits of the group-connected services like shared Outlook inbox, shared calendar, SharePoint site, Planner, Power BI, Yammer, and Teams.
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Source: https://github.com/pnp/sp-dev-fx-webparts/tree/main/samples/react-manage-o365-groups