The UFC should...
I was just kicking around idea's of what I would do if I was Dana and the one that sounds best to me is this..
I would dissect Strikeforce and TBH I would keep a lot of fighters I know I would cut later.
I would then start a grand prix in every Division and plan it out over three or four events (however long it needs to be) and I would charge more for the Championship's like ten bucks more.
After the championships I would make the changes I could and work on the athletic commission to completely remodel WAMA and have it split off from the State athletic commissions as the sanctioning body of PRO MMA country wide. However, because the NSAC is the only State athletic commission that matters that wont sign on I would try and negotiate them into the mix. But I would wait to give them a ultimatum until New York gets on board with MMA.
By helping re-wright the regulations I can insure a lock out of fighters unions and push for changes from illegal striking definitions to judging criteria, hell I might even threaten to move home base to Canada, I'd take what I could get and try to influence everything in favor of the UFC.
I would have a official rankings installed and abide by them as a guideline but not a rule. If your asking then why have rankings at all. The simple answer is a lot of fans want it, its been talked about on every MMA forum Ive been part of.
What changes would you make if you were running the show today and what priority would you give them?