The Manager also encourages his team to compete against themselves, for example to beat last month's production record or exceed last month's revenue figures. He encourages individual competition too, for example as 'employee of the month' in service environments. At a different level the Manager will encourage his people to compete for promotion to other department, for career development opportunities, and for the highest scores on training courses. He knows that for his company to survive in a harsh competitive world he needs to encourage a competitive spirit among all his people. However, in encouraging competition the Manager will protect his team, will not allow anyone to ride roughshod over them, nor will he allow any individual to be sacrificed or destroyed in the process.
Competition can only be healthy if it's combined with compassion.
That's the balance between profit and people. A simple competition whereby your team can compete with another team in the company. Consult your team on how to do this. An individual competition between all the people in your division department. If you've no idea at all how to do this, consult your people.