Please read the following context and question and provide a well written answer of five hundred words use the correct terminology!

As a result of a financial crisis, Dean Rafael Watley of The Luxe Hotel School faces a mandate from the university central administration to cut costs by 5% for the coming year, and by another 5% the year after that. He has been able to plan out the first 5% in reductions through working with his department heads, and it looks to be relatively painless. The next 5% will have to more directly affect the central teaching and research functions of the school. He has decided to form a faculty committee to develop recommendations aimed at making those cuts without compromising our core missions of creating and disseminating knowledge for the hospitality industry.

Why might a faculty committee be a wise approach to this challenge? Why might it be a bad idea - what are the risks of forming such a committee? What recommendations would you make for the composition of such a committee? Not looking for particular names. What attributes or characteristics should Dean Watley seek out? How big should the committee be? How should the committee run in order to maximize the quality of their recommendations?