work out what managers are available and when and make decisions based off that
what fans want is sack Ole and then do step 1.
No, do step 1, there are only a few managers in world football good enough to commit to.. the hurdle shouldn't 'but anything is better than this therefore hire whoever is available'.
Ideally, Woodward should appoint a top football person to help with the decision but he hasn't managed for over 1 year and it feels a bit too late now. Use the football expertise already at the club to line up a top global managerial talent that fits what we want to do (as well as we understand it, which isn't very well, so it isn't ideal).
Alongside this we should be looking for someone to manage the football side of the club beyond this season.
As for the team in the short term, top managers tend not to leave mid season so without a director of football it is difficult to spend significant money right before someone new comes in. That said, the squad is desperate for reinforcements in the front 6 where the bulk of our players are academy players. I think via Ole if he can pick the results up short term or via some interim if Oles next month stays the same we need to bring in a centre mid, and option out wide and some kind of striker, whether it be on loan or not.