According to Collins and his research team, which of the following is most likely true of stage $3$ of the five$-$stage process followed by leaders of failing organizations?

Multiple Choice

Leaders enjoy growth and acclaim, become greedy, and pursue activities unrelated to the organization's core business.

Setbacks and erosion of financial performance cause leaders to lose hope and recognize the inevitability of failure.

As reality sets in and collapse is imminent, leaders grasp at anything they think will save them, including hail$-$mary strategies.

As danger signs develop, leaders place blame for poor results on external factors rather than their own poor decisions and counterproductive behavior.