A horse race pits two or more horses in a contest of speed. The first horse to cross the finish line wins the race. The term has also been used to describe a contest between political candidates or parties. The idea of comparing a presidential campaign to a horse race is particularly apt given the high stakes and nail-biting results that are expected in 2016.
Throughout history, horse races have entranced spectators. The sport traces its roots back to the ancient Olympic Games, when riders rode bareback and hitched their horses to chariots. Today, it attracts millions of fans each year to tracks across the country. Whether you’re an avid bettor or just there for the food, drinks and entertainment, a day at the track can be a fun and memorable experience.
In a horse race, each horse is assigned a weight based on its ability. The top contenders, or favorites, carry the most weight. However, there are other factors that can influence a horse’s performance, such as its position in the starting gate (known as the ‘barrier’), sex, jockey and training.
The more prestigious races feature a larger purse and may have specific requirements, such as the distance of the race or the stipulation that the winner must win by a certain number of lengths. These events are known as handicap races. The rules of the sport are designed to ensure fair competition and prevent cheating. For example, a rider is not permitted to use a whip more than once during a race, nor can the trainer give his or her horse an illegal substance before the race begins.
For the most part, horse races are incredibly well run. But, like many other sports, there are some darker sides to the industry that have emerged in recent years. The growing awareness of the cruelty involved in horse racing has fueled calls for improvements, such as drug testing, the training of young horses, the transporting of animals to slaughterhouses, and the use of certain substances that can damage a horse’s health and cause injury during a race.
Proponents of the horse race approach argue that an overt competition for a leadership role can help to cultivate strong leaders in the organization and promote succession planning. This can be especially important in organizations that have historically struggled to find a replacement for retiring or departing CEOs. However, governance experts warn that the horse race strategy has its downsides. Depending on how the competition and final decision are handled, it can have a negative impact on the company’s ability to fill senior-level positions, as well as its ability to retain talent deeper in the organization that may have aligned with an unsuccessful candidate. Moreover, a successful horse race can also alienate stakeholders who have no desire to be part of the process. This can lead to distrust and resentment that may last long after the new leader has taken office. To minimize these potential issues, companies should carefully consider their needs and the best approach to choosing their next CEO.