Performance management and reward

ABC Limited is an Irish company making high quality furniture. About 50  people in total are employed. About 40 of the workforce work on the production of the furniture including the manager who is a member of the board of directors and two deputy managers. There are two delivery drivers, two sales people and another two people work in the sales office. There are two people in the accounts office. The chief executive owns the company and apart from her,  the board of directors includes the production manager and the chief financial officer.
The market is competitive and the board of directors want to take steps to encourage high productivity without compromising the quality of the furniture produced. They are considering introducing a performance management system and need some advice. And they wonder if using work teams should be a part of a performance management system.
You have been asked to advise the company under the following headings:
1.    How should ABCs directors  proceed in  setting  up and implementing a performance management system ?
2.    If it is decided to use bonuses or other financial rewards as part of the system how could this be set up so that everybody  (including the directors) could possibly benefit ?
3.    What advice would you give regarding using team work as part of the performance management
system ?
Assignment details
Please read carefully the marking structure and case study.  Use all the information
Original discussion along with referenced research is required in this assignment. 
In your research look for and use a relevant example for each of the three sections.
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