This study analyzed individual peer-review assessment data to understand the contributions of individual team members to in-class permanent-team outcomes, social loafing and loss of social interdependence among team members, and the achievement of team-lecture hybrid (TLH) instructional strategy learning outcomes in a team learning environment. A value creation theoretical framework was used to assess perceived value creation in 953 statements recorded in 341 intragroup assessment narratives from 127 students in 28 in-class permanent teams across 11 courses at Indiana University Kokomo, US and St Elizabeth University New Jersey, US from January 2012 to May 2016. Participants were drawn from public affairs, leadership, and healthcare administration courses. Fourteen emerging themes organized under four predetermined domains including preparedness (14.7%), contribution to productivity (53.0%), respect for others (13.0%), and flexibility (18.0%) and one emergent domain, instructor contribution (1.15%) revealed that individual performance either added to or detracted from collective team performance, empirically aligned with four value creation cycles in the value creation conceptual framework, and advanced four expected student learning outcomes. Social loafing and loss of social interdependence were identified in team member interactions and they interfered with student learning outcomes. Permanent-team members desired and expected the following five attributes from their team members: (1) prepared for project activities; (2) willing to contribute substantially or intangibly to team productivity by sharing knowledge, having good work habits, improving the team product, and helping with leadership and coordination; (3) respectful of others; (4) willing to seek consensus and compromise; and (5) able to show flexibility in their interaction with others. They also saw their instructor as an intangible resource in the permanent team who provided knowledge, moral leadership, structure, and mentoring. Instructors and students should consider these findings when they participate or facilitate learning activities in in-class permanent teams.