university - What is "shared governance" and how does it work in practice in academia?

I read the Wikipedia page and this article on the subject and frankly, I am still clueless. I don't understand what shared governance means in practice, how it applies, who it is for, and how it actually works. (In most universities - I understand the details are university-specific.)

• What kind of issues are decided by shared governance?



• Who participates? (I understand this can vary by university; just asking about general trends)


• How does it work, on a practical level? (I understand what a session of the U.S. Senate looks like, I have no idea what a session of a faculty senate looks like.)


• What are the benefits and disadvantages of this approach to governance?


• What kind of hierarchy typically exists? (Who reports to who?)

A related question is What is the usual role of a faculty senate? Does it typically have any real power, or is it a rubber-stamp for the administrators?, but that only questions the extent of their power. I am trying to understand how this kind of system looks and works in practice, the way my high school Civics course taught me how the U.S. government functions in practice.

For context: I am most interested in large research universities in the U.S., though I welcome answers from other perspectives.