The purpose of this paper is to extend the theoretical understanding and conceptualization of shared leadership is lauded to be a team performance- enhancing approach, team creativity, and effectiveness of an organization. Shared leadership is a complex and dynamic phenomenon, and there is still much that we do not understand about it. By extending our theoretical understanding and conceptualization of shared leadership, we can better understand how it can be used to enhance team performance, creativity, and effectiveness. Shared leadership is a leadership approach in which power and responsibilities are distributed among team members. This approach is lauded for its ability to enhance team performance, creativity, and effectiveness. More studies need to investigate the relationship between shared leadership and team performance and their different functions. To address the above- mentioned gaps, the purpose of this paper is to identify the underlying dimensions of shared leadership and examine the relationships among team members’ perceptions of shared leadership, and team performance. To achieve these the following research questions: The first question, "What are the underlying dimensions of shared leadership?" is essential for understanding how shared leadership works. By identifying the different dimensions of shared leadership, we can better understand how they contribute to team performance. The second question, "How does shared leadership affect team trust?" is also important. Team trust is a critical factor for team success, and shared leadership can help to build trust among team members. By understanding how shared leadership affects team trust, we can better understand how it can be used to improve team performance. The third question, "How does team trust mediate the relationship between shared leadership and team performance?" is also interesting. This question explores the possibility that team trust is a mechanism through which shared leadership affects team performance. If this is the case, then it would suggest that shared leadership can improve team performance by building trust among team members. The way shared leadership has been conceptualized may be the cause of the inconsistent results of shared leadership and its aspects. Many management fields have praised shared leadership as a performance-improving strategy with practical implications. It is envisioned as an ever-evolving dynamic team process. The lack of research that has looked at its temporally pertinent border requirements for the success of the team is remarkable, nevertheless. However, compared to its good effects, existing research on shared leadership's negative effects is still dispersed. Since there isn't a literature review that systematically summarizes these potential drawbacks, the academic community lacks a thorough understanding of these negative effects. The current study seeks to close this gap by offering a thorough literature analysis that will explain the detrimental impacts of shared leadership and create an all- encompassing analytical framework in accordance. This essay aims to clarify whether the harmful impacts of shared leadership have been empirically or theoretically proved, when and why shared leadership causes these harmful effects, and what research approaches are likely to yield positive results in the future. In addition to providing the academic community with a more thorough and balanced understanding of the impact of shared leadership, the current study also identifies several directions for future research by responding to the research calls for exploring the potential negative aspects of shared leadership. A new leadership approach called "shared leadership" places a focus on sharing, involvement, and collaboration between team members and leaders. This paper's goal is to review the current body of knowledge regarding shared leadership, including its definitions, traits, influencing variables, and effects on people and organizations. It has been discovered through a review, summary, and analysis of the pertinent literature that shared leadership improves employee creativity while lowering stress levels and raising job satisfaction. The mechanisms and methods of shared leadership implementation, as well as the study of shared leadership in various cultural contexts, should be further investigated in future research.