Shared objectives may produce shock problem (5,4)
I believe the answer is:
split ends
'shock problem' is the definition.
('shock' can mean hair)
'shared objectives' is the wordplay.
'shared' becomes 'split' (split between multiple people).
'objectives' becomes 'ends' (end can mean a goal or objective).
'split'+'ends'='SPLIT ENDS'
'may produce' is the link.
(Other definitions for split ends that I've seen before include "damaged locks" , "Hair problem" , "hairy problem" , "damaged hair" , "Dry hair" .)