I'd first see if getting rid of the front office execs would make a difference. Perhaps Hornacek can lead this team to success if he's allowed to coach them the way he wants to instead of the way Phil wants him to.
To replace Phil, I'd pursue guys like Steve Kerr and Sam Presti. I'd also consider someone with no experience as a GM like Kenny Smith and Doug Collins.
If Hornacek doesn't work out, my list of coaching candidates includes Ettore Messina, Nick Nurse, Monty Williams, Patrick Ewing, Marc Jackson, and David Blatt.
Looking at the roster, Porizingis is obviously the guy you're building around. Many people are against keeping D-Rose, but if he's willing to accept a team friendly contract; he's my starting PG. He's slowly regaining that old form. I'd hate to see him fully recover it while playing for another team. I also like the idea of him and KP in pick-and-roll, pick-and-pop, pick-and-slide situations.
Melo wants to be in NY and I respect that. He's not untouchable but, in the right offense (not the triangle), he can flourish. His offensive game isn't good enough reason to retain him. The Knicks defense is a liability and if he continues to be one of the reasons why it's lacking, then I'm pursuing a trade. I would trade him to wherever he wants to go, so long as I'm getting back players with good basketball IQ and good defensive upside.
As far as the draft is concerned, I'm taking Jayson Tatum if he's available. If not, I'm looking for someone who can defend and/or spread the floor.
As far as free agency is concerned, I'm pursuing vets likes Korver, Galinari, David West, JJ Redick, Terrence Jones, and Taj Gibson. This summers big free agent target would be Gordon Hayward. 2018's modest free agent target would be Avery Bradley...or we could go after some guy named Lebron James.
Until Dolan and Jackson are gone, this franchise is going nowhere. As a Knicks fan, it kills me to say it, but it's the truth. Phil Jackson is a prime example of how you can't teach an old dog new tricks.
Bonus: If I owned the Knicks, I'm bringing Marv Albert back to the booth.