The importance of groups in a business cannot be underestimated because working as a team is the most efficient way to find solutions to specific problem. This review paper aimed to provide a comprehensive view of the group and group dynamics in light of diverse theories from the past to the present by exploring how significant components of dynamics are entrenched in contemporary group literature. An extensive literature review was performed to examine 55 articles collected from various databases such as Web of Science and Scopus and published between 2000 and 2020. In social science, understanding group values is of particular importance because they determine what kinds of behavior are acceptable or unacceptable within the group. The study examined many constructs from past research, as well as key ideas from group-related theories. Moreover, research studies that have made significant contribution to management theories were explained with novel ideas in this paper along with future directions.