Google docs would be useful for a group of people who need to approve, review, and/or revise a document. The value is the fact that the doc is attached to the necessary email addresses of the group members; all new revisions are saved as well in one place- a real time saver.
The editing aspects seem to work the same as Microsoft Word- font, underlining, cut and paste, etc.
What's interesting is the group presentation idea. This cuts down on actual meetings. Members at their convenience can share their ideas to pull the presentation together.
Plenty of templates to help you get started.
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