This question is more complicated than it seems and a very good question. There is a very fine line a person has to walk on this matter when raising a child. Going too far with devaluing individuality leaves a child extremely vulnerable to getting mixed up with the wrong crowd. They would tend to be a follower rather than a leader. This could result in them settling to be part of the status quo and selling themselves short in life.
On the other hand, stressing individuality too much can result in a child that feels that they don't fit in anywhere or with any group at all. Or they could feel as though they are better or worse than a group or groups. Feeling too individualized, can result in the child becoming isolated and alone.
They need to learn both. They need to be taught that they can be part of the group without getting lost in the crowd.
Addressing other's answers, as a child or young adult, we can make suggestions to our children. We can do that, if our relationship is right, by objectively making the child aware of their strengths and weaknesses. We can give them all the information we have at our disposal, but let them know the final decisions are up to them. What is extremely important in letting them know that we have complete confidence and respect for their decision making and will support them, even if it's not exactly what we as parents want. There is a very good chance that your suggestions will carry a lot more weight if the child knows you are putting their dreams ahead of your own.