The term "faculty" is used to describe "members of a learned profession". Strictly speaking, strategic management is not yet a profession, but we aim to change that through our sister organisation, the Strategic Management Forum. It exists with the purpose of "advancing the professional practice of strategic management".
Our members are "learned". They have to qualify for Fellowship of the Strategic Management Forum, which means they have at least 10 years experience in the field, working at a senior level. References are also required, to confirm that clients regard them as professionals.
Another feature of faculties is they collaborate in the development of their own knowledge in the area of their expertise, as both individuals and groups. FOISME encourages the formal and informal creation and sharing of knowledge among the faculty on an ongoing basis. We also try and help faculty members when they have a specific requirement for help or assistance.
By operating as a faculty one of the biggest disadvantages of operating as an independent expert or small specialist agency can be overcome. Members can get the kind of help and support the teams at large consulting firms enjoy.