Learning  teams are a popular method of management education.  The influences of the cognitive activities and interactive quality within the MBA (master of business administration) teams on the learning effects were empirically investigated. The results showed that the communication among the team members related positively to the forming of shared mental models and affected the MBA team performance. The free riding behavior in the teams mitigated the satisfaction of the team members and jeopardized the team performance. The quality of the communication and interaction within the MBA teams could also affect their outside friendship.