Shared leadership is a team leadership approach where influence and power are distributed among team members, rather than concentrated in a single appointed leader. It involves team members leading one another towards achieving shared goals through providing feedback that motivates and influences the team's direction. Shared leadership can be measured through members rating each other's leadership behaviors and through social network analysis to assess patterns of influential relationships. Potential advantages include united responsibility, employee involvement in decisions, and increased creativity and satisfaction, while disadvantages include difficulty executing and requiring significant changes to organizational structure and decision-making.