[GameExtremist]

Multiple Strategos seem to work wonders their Morale boosting banners are worth (10) though I've got no idea how much the mechanics of that figure work. Another thing you can do is add some Cardaces or hoplites to the unit to boost the avg morale value up. But I tend too avoid that as although the elephants are twice as quick if its a good stand up fight the cardaces and hoplites start to drop like flies causing more morale checks.

But yes the morale and low MR is an inherent weakness. Though not everyone seems to take advantage of this for whatever reason e.g. nation choice, circumstance, experience etc.