Horse races are a centuries-old sport that has evolved from a primitive contest of speed or stamina between two horses into a huge public-entertainment business. While today the races involve massive fields of runners, sophisticated electronic monitoring equipment and immense sums of money, their essential concept remains unchanged: The horse that crosses the finish line first wins. The horses’ power, beauty and excitement undoubtedly draw fans to the grandstands, but the ability to win a pay day for a week, a month or, in the case of the legend Seabiscuit, even a lifetime has also enticed many people to place a bet.
In the wild, horses love to run fast and joyfully. But in the race to win, they are forced to move at speeds that are not natural for them and imposed by human constructs to meet a set of artificial goals. They are compelled to move at a pace that is not comfortable for them and to keep moving at all costs, no matter the pain or injury they will suffer.
Running a horse race is not easy, and it requires the highest level of training and skill to ensure a safe and fair competition. It involves a complex series of maneuvers that must be executed perfectly to achieve the desired result. This includes a precise and consistent gait (semi-trot, pacing or steeplechase), the size of the stride, the number of steps per minute, and the speed at which the horse runs. It also requires a high level of fitness, and it is important to manage a horse’s weight to avoid injury.
While a horse race is a common part of the racing industry, there are some who question its safety and welfare. One major concern is that it can cause serious injuries to the horses.
Another concern is the way that the race is marketed and promoted. The industry promotes horse races as exciting and fast-paced events, and this often leads to a higher interest in the sport among young people who are not used to such a fast-paced event. This can lead to a more dangerous environment for the horses and may contribute to increased incidences of injuries.
The classic succession “horse race” pits two or more senior executives in an overt competition to be the next chief executive officer. While some governance experts and executives are uncomfortable with this approach, others point out that when it is applied well, a horse race can produce exceptional leaders.
The board and current CEO should consider the company’s culture and organizational structure before deciding whether an overt leadership contest is appropriate for the organization. For example, if the success of the company depends on teamwork and resource sharing, an overt leadership contest may not be a good idea. The board should also consider the management and leadership development processes in place, and decide if an overt race would help or hurt those efforts. Then the board should determine if it is prepared to handle a prolonged horse race for the CEO position.