Topic:
"Most people recognize the benefits of individuality, but the fact is that personal economic success requires conformity."

What exactly does "individuality" and "conformity" refer to? Does "conformity" here mean the act of clinging to old paradigm or the action within the regulations, and "individuality" mean the creativity? It is a tough one. I don't know what I should focus on to write. Kinda frustrating!
In this context 'individuality' means: being unique as a person, being different from the crowd. And 'conformity' means: being just like the others in the crowd.

The statement asks you to weigh the benefits of being unique against the advantages of being just like everyone else. Most people find a happy medium. A total 'non-conformist' can't easily get ahead in the marketplace. (There are notable exceptions.) On the other hand, a total conformist, has no unique character, and will suffer in other ways.

On the other hand, a total conformist, has no unique character, and will suffer in other ways...
... Because he feared of changing, and failed to bring into innovation, he lost the competition to his rival. For instance, Nokia was always clinging to bar-type cell phones, even though it was still world leading maker, its market share was declining. Now Nokia launched new models, and began to adopt folder-type and flip-type phones to cater its consumers, in order to claw back market share ...

Thank you so much, Davkett!!!
Students: We have free audio pronunciation exercises.
For a second thought, is it convincing that a total 'non-conformist' can't easily get ahead in the marketplace, Davkett?
There are exceptions on 'both sides of the coin'. Did you ever see the movie "Being There" (1979) with Peter Sellers, playing a man who grew up-knowing only what he saw on TV-to be President of the United States?