Companies in a downfall commit several mistakes such as embarking on

Although not a GMAT like question because of lacking the full set of questions, the moderator wants us to learn some concept from this example. So let’s make the best use of it.
The way to get at it is to note that ‘forgetting’ has no comma before it, implying that it is not part of the list, but only a part of the first factor. So essentially there three mistakes in the list, namely embarking, hiring and seeking. B is dropped. Between A and C:

In C, the idiomatic usage of ‘such radical… that’ is better suited to the context than the verb+ing modifier without the comma in A, meaning that it is the change that is forgetting the underlying strengths. Similarly, in A, the timeless participle ‘making’ doesn’t gel with the a definite past tense event of what made the company great in the first place. So A is inferior to C.

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