What is a Horse Race?
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A horse race is a contest that pits two or more contenders against each other for a particular role, typically with the winner becoming the next chief executive officer. While some executives and governance observers are uncomfortable with the “horse race” approach to succession planning — characterized as an overt competition for the top position among several recognized candidates within a specific time frame — it has proved successful in delivering an effective CEO in some of the world’s best-known companies, including General Electric, Procter & Gamble and GlaxoSmithKline.
The term horse race is often used as an analogy for the political process. It can refer to a battle of personalities, the mudslinging of campaigns, the name calling and other forms of rhetoric that obscure the real issues at stake in the election. Alternatively, it can be a metaphor for a high-stakes competition that is difficult to win because the opponent has such an advantage in resources, experience and talent.
Horse racing is an ancient sport with a rich history and widespread global participation. Archaeological evidence points to horse racing in many civilizations, and it also plays an important role in myth and legend, such as the chariot race between Odin’s steeds in Norse mythology. Despite the risks, millions of people still enjoy watching and betting on horse races.
The modern horse race is held in an enclosed arena, where spectators sit on bleachers or in grandstands. The racetracks are designed to accommodate a number of different types of horses, from thoroughbreds to quarter horses and pony breeds, and a range of distances, from sprint races to marathons. The earliest horse races were probably run on open fields, with a small group of people standing to watch and place bets.
As racing became more organized and professional, the horses moved from field to track, and the races were governed by rules. The governing body of horse racing in North America is the National Thoroughbred Racing Association.
Horses must be well trained to run competitively. Injuries are common, and many horses bleed during exercise (exercised-induced pulmonary hemorrhage). Because of their unnatural training, most horses suffer from psychological and physical problems, including repetitive, compulsive behavior such as biting on the gate, cribbing, and kicking.
The best-laid plans can be thrown off by unexpected circumstances, such as when a race does not fill or an extra race is added. For trainers and owners who made travel arrangements in anticipation of a race, this can be especially frustrating and can add to the stress of an already stressful event.
In addition, many horse racing outsiders have concerns about the treatment of the horses. The invasive testing that was done on Havnameltdown prior to the Preakness and the use of cocktail drugs to mask injuries and enhance performance raise red flags. Injections of corticosteroids to multiple joints four weeks before the race and sedatives given to the horses during training are other causes for concern.