Okay, Mike Zafirovski is Nortel's new CEO with a sweet compensation package and enough power to achieve what he wants strategically without worrying about board interference. So where does he start? Here's a possible scenario: Once he takes over Nov. 15, Zafirovski spends two to three months looking at the company from top to bottom: its technology, R&D, products, management team and partnerships. He then puts together a plan - possibly cribbing some ideas from ex-COO Gary Daichendt, who quit in June after his strategic plan was rejected - and presents it to the board. Ideally, Zafirovski decides to focus on areas where Nortel is ranked #1 or #2. This could mean exiting the enterprise market and, instead, establishing partnerships with companies such as Cisco, whose CEO, John Chambers, has made it clear in the past he wants to dance with Nortel. Then, Zafirovski sells or shuts down the business units that aren't viable. This could see thousands of employees given their walking papers. The next move is picking one of two new growth opportunities and aggressively pursue them. It's that simple. If Zafirovski can execute and one of his new bets pays off, he'll be a hero. If not, he heads back to the U.S. with a suitcase full of cash and the belief he did everything he could to reinvigorate Nortel. By the way, one of the first things Zafirovski might want to when he visits employees in Ottawa is swing by Meriton Networks, which is an emerging player in the metro optical market. Nortel could buy Meriton, pick up some great technology and, in the process, build some goodwill with employees, investors and the telecom world.