Collective strategy refers to a coordinated approach taken by a group or organization to achieve common goals. This strategy often involves collaboration among members, allowing them to share resources, knowledge, and skills. By working together, groups can enhance their effectiveness and address challenges more efficiently than individuals acting alone. In business, collective strategy can be seen in alliances or partnerships where companies combine their strengths. For example, joint ventures allow firms to pool their expertise and resources to enter new markets or develop innovative products. This collaborative effort can lead to greater success and competitive advantage in the marketplace.