Diversify your teams and collaborate: because great minds don't think alike

Purpose – This article aims to provide business managers and executives with a framework of how to best utilize and implement teams in the workplace so as to maximize both internal and external diversified skill sets capabilities in team members. Design/methodology/approach – A combination of primary and secondary research was conducted to highlight and strengthen the authors' views and opinions. The original ideas and basic concepts are based upon the authors' own experiences. Findings – Companies have much to gain from utilizing teams and teamwork within and across corporate boundaries. Success is more likely to be achieved if the team has certain core characteristics. In addition, a heterogeneous team composition could optimize efficiency, quality, and innovation. By collaborating and teaming with external parties companies can overcome internal resource limitations and achieve competitive advantage, greater profitability and maximize chances for long‐term survival. Research limitations/implications – The article is primarily based upon the authors' own experiences and opinions, which may differ from results of studies and research done on the subject. The secondary research was limited. The survey conducted by the authors was not scientifically constructed. The sample size was small ( n =32) but yet statistically significant and based upon a convenience sample. Practical implications – The article may help company executives and managers who want go get the most out of their employees and enhance their work teams' productivity levels, output quality, and creativity. Originality/value – The article is a clear and concise read relating to a highly relevant business topic. It takes a multi‐level approach to the concept of teams in the workplace, and could serve as a good guide to business leaders on how to create the most efficient and effective work environment for their employees that will ultimately result in more successful and profitable operations.