Abstract: Two models are set up separately for the competitive strategy and cooperative strategy decided by the same enterprises, with output as the strategy variable and aiming at profit maximization. Comparing the earnings and risks from cooperative strategy with those from competitive strategy as decided by two or more enterprises, a conclusion is drawn that the cooperative one has the features of lower output, higher selling price, more earnings and high risk. Further risk analysis indicates that a enterprise can alter its strategy promptly in accordance to open information on price, so as to reduce the risk from cooperative strategy. However, a enterprises is unavoidably facing to competition even though it has decided to pursue the cooperative strategy with others. What the enterprise can be done is nothing but to turn its key point to reducing cost from increasing output. The cost reduction the core and the only way to maximize profit. One numerical examples are given to illustrate the models.