Team-based learning is a highly structured form of small group learning using permanent groups. It involves pre-class preparation, a readiness assurance process with individual and team tests, and application activities. The readiness assurance process uses a flipped classroom model where students complete pre-reading and an individual readiness assurance test before taking the same test as a team. This promotes collaborative learning and discussion to reach consensus. Application activities involve solving significant problems as a team. The document provides an example of team-based learning used in a business school module with preparatory materials on Chobani yogurt, individual and team readiness assurance tests, and an in-class activity applying the four actions framework to Chobani's value innovation strategy.