QUESTION 1 Smiley Berhad is a computer games company that operates in Malaysia. You are Mr. Azrai a Management Accountant for Smiley Berhad. You have just found the following memorandum from the Chief Financial Officer (CFO) as follows: ____________________________________________________________________________________ SMILEY BERHAD MEMO FROM: Mr. Eddy To: Mr Azrai Date: 17 October 2020 Re: Strategic Planning ____________________________________________________________________________________ Dear Azrai, As I'm sure you're aware, Smiley is planning to expand abroad into the European market. To support this, we have undertaken a detailed review of our existing operations and the European market. This has been used to produce a three-year budget and operational plan for our proposed European operations. The European electronic market has always been seen as a difficult market for new entrants. This is due to the fast-moving, innovative nature of the companies currently operating there. Smiley has a high spend on research and development and our directors' feel that the company is well placed to compete with European games manufacturers. I'm meeting with the directors in fifteen minutes so I need you to make some brief notes for me evaluating our current approach to strategic planning. Can you suggest any more appropriate approaches we should consider? Thanks REQUIRED: Draft a response to your CFO, as requested. (10 Marks)