Research from McKinsey suggests that many companies lack a powerful strategy and few are taking steps to remedy that problem. The companies that can look at their strategic weaknesses with clear eyes, and act accordingly, will be those that thrive in future, write McKinsey's Michael Birshan, Martin Hirt and Kurt Strovink. "While change is never comfortable, our research suggests the bigger risk for many companies is not facing up to their strategy problem," they write.

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