Final answer:
The decision by a board of directors to hire an outsider as a leader usually suggests a desire for change, aligning with response option 'b'. This does not directly implicate the proficiency of internal candidates or the integrity of the performance review process.
Step-by-step explanation:
When a board of directors decides to bring in an outsider to lead the company, it may convey several messages to the shareholders and employees. One likely implication could be b. The old way of doing things is going to change, which may suggest that the board is looking for a change in the company's direction or culture that they believe an external candidate is better suited to implement. The choice of an outsider does not necessarily mean that internal candidates lack proficiency, nor does it directly indicate that the performance review process is inadequate or that the internal candidates are all new. The decision to bring in an outsider could also be based on the insider-outsider model, where the board believes that a fresh perspective might be needed to enhance the firm's performance and strategic direction.