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Answer:
According to McKinsey, 79% of all companies have cut costs in response to the global economic crisis, but only 53% of executives think that doing so has helped their companies weather it. Even though there's a commonsense ring to trimming costs, research demonstrates that approaching operational efficiency with the aim to reduce expenses is not nearly enough. Data from PwC also suggests that less than 30% of cost-cutting programs achieve their goals, and less than a fifth of these are able to harvest consistent rewards over the following three years.