In many organizations today, managers are at crossroads on whether to emphasize on individual competition and teamwork and collaboration among their employees. For any business institution to succeed in its operations, its managers should settle on emphasizing teamwork and collaboration among its staff. Imperatively, teamwork and collaboration promotes diversity, increases productivity, profitability due to exchange of knowledge and resources and skills. To begin with, managers should foster teamwork and collaboration in their organizations because that will boost productivity. This strategy motivates the members of staff to work together as a team; hence, discarding their personal interests in order to achieve the best results for the organization. Teamwork helps in the achievement of a collective goal; increased productivity and effectiveness ion the company due to combined talents and well distributed duties and responsibilities. Collaboration and teamwork among employees of an organization helps in snowballing the business’ profitability. This is because of the shared responsibilities, resources, knowledge and skills. Since members work jointly, the business will expand its productivity that, in turn, leads to increased profitability. Therefore, business managers should encourage teamwork rather than individual competition in their businesses. That way, they will realize their set goals and objectives. In addition, teamwork and collaboration overrides individual competition because the former fosters diversity in an organization. Since different people from different cultural, political ethnical, religious and racial backgrounds, this environment incorporate diverse opinions and ideas. Consequently, this will boost their efficiency in the business as well as promoting peace and harmony in any society. Evidently, individual competition among the employees is an inappropriate strategy as it encourages independent mindset, selfishness and individuality; characters that inhibit any progress in business. Teamwork and collaboration is the best strategy to use in an organization because it promotes diversity, increases productivity and profitability, and thus a recipe for the attainment of organizational goals and objectives.