Meaning of “collective” in the English Dictionary

"collective" in American English

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collectiveadjective

us /kəˈlek·tɪv/

of or shared by every member of a group of people:

It was a collective decision/effort.
collectively
adverb us /kəˈlek·tɪv·li/

The industry is willing to work collectively to find a solution.

(Definition of “collective” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"collective" in Business English

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collectiveadjective [ before noun ]

uk /kəˈlektɪv/ us

done or shared by every member of a group:

collective action/effort/decision It will require a collective effort from government, providers, and the media to meet our goals.
collective responsibility/rights All directors take collective responsibility for board decisions.

collectivenoun [ C ]

uk /kəˈlektɪv/ us

an organization or business which is owned and controlled by the people who work in it:

One appeal of collectives is that they reduce risk.
a collective farm

(Definition of “collective” from the Cambridge Business English Dictionary © Cambridge University Press)