This study examined the influences of team charters and performance strategies on the performance trajectories of 32 teams of master's of business administration students competing in a business strategy simulation over time. The authors extended existing theory on team development by demonstrating that devoting time to laying a foundation for both teamwork (i.e., team charters) and taskwork (performance strategies) can pay dividends in terms of more effective team performance over time. Using random coefficients growth modeling techniques, they found that teams with high-quality performance strategies outperformed teams with poorer quality strategies. However, a significant interaction between quality of the charters of teams and their performance strategies was found, such that the highest sustained performances were exhibited by teams that were high on both features. (Contains 1 figure, 2 tables, and 1 footnote.)