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A two‐year inquiry was commissioned by the American Business Conference (ABC) and conducted by McKinsey & Company, Inc., to explain how and why certain midsized growth companies have outpaced the nation in sales, profits, jobs, and exports. The study was based on an extensive literature search, several large data bases (PIMS, Compustat, and Dun & Bradstreet), and a survey. However, it was some sixty informal in‐depth interviews with ABC members—in some cases founders and always current leaders—that provided most of the unconventional and provocative insights.

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