Arrow Tools is a power tool manufacturer located in the city of Dongguan, located in China’s Pearl River Delta. Ever since Arrow Tools began making tools in 1980, they have been using service teams in the form of assembly lines to produce their products, which are tools such as power drills, power screwdrivers, circular saws, and routers. Recently, the company has decided to implement and form project teams surrounding each of their individual products. The belief is that making this move will allow for greater efficiency in the design and production of each of these tools. To make sure that the development and performance of these new project teams are effective, Arrow Tools wants to implement a team performance management plan. Because the concept of performance management is fairly new to managers and employees in China, you have been asked to provide a summary of the basic components of a team performance management plan that can be applied to these new project teams. Further, for each of these components, explain why each is necessary.