This means a sense of unity, of enthusiasm for common interests and responsibilities, as developed among a group of persons closely associated in a task, cause, enterprise, etc.
Why teamwork is Important?
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So the simple definition to that would be: "Teamwork helps solve problems"
Collaboration within a group can help solve difficult problems. Brainstorming is a good opportunity for the team to exchange ideas and come up with creative ways of doing things.
This is one of the reasons by today almost every other Organisation. Every successful company out there including the MNCs (Multi National Companies) promote the practice of 'Teamwork' as they understand the Criticality & Importance of working together.