Summary Current circumstances have led us to rethink the governance of our company. To address some issues like business spread, incompetent management, inappropriate structure and high attrition rate we have addressed here. The strategic options evaluated are the divestment of certain activities, the restructuring of management by providing generalized top management or the use of specialized management. Options are evaluated based on cash position, future projections, preservation of reputation and effective management operation. Based on this, I recommend disengaging from irrelevant and non-performing activities. This will ensure the smooth running of the company and sustainable profitability.[Word Count: 102]Situation AnalysisThe current situation of the company shows that the ideas of the late Mr. McFettridge are not being implemented properly. Miller Tool Company may have become a preferred investment location for financial institutions, but the reality is very different. The company will have to resolve a number of issues in the future. The company has diversified so much that it has lost its core business. Additionally, acquired businesses are inherently irrelevant. The tools sector needs “Business to Business” marketing. However, some companies are also "business-to-consumer" (e.g. a bakery company, a chain of dry cleaning stores) and "business-to-government" (e.g. a company engaged in research in defense matters). So the lack of enterprise integration is one of the key issues we need to address. The company clearly lacks vision. Indeed, since the loss of Mr. McFettridge, the vision and plans he had are not known to anyone. This highlights the lack of structured direction. In addition, the management has many young employees who are used to doing office work. Their decision-making skills are not developed due to inappropriate mentoring. Work processes are more focused on the individual than the system. We are facing a shortage of human resources on both our fronts: engineers and designers, i.e. management personnel, as well as managers who can effectively manage the business. Poor utilization of good talent has led to a high attrition rate. The management of the company is not structured. The cash position and the contribution of individual companies to profits are also worrying. We seriously need liquidity for the technological advancement of our tooling business. The only way to compete in the market is to rely on technology. Inefficient production techniques lead to much higher production costs.