Horse race is an activity that involves horses running in a contest of speed or stamina. It is one of the oldest sports in history, and has evolved from a primitive contest between two horses into a global spectacle with fields of hundreds of runners and sophisticated electronic monitoring equipment. Nevertheless, its basic concept has not changed. The horse that crosses the finish line first wins.
Amid the mudslinging, name calling and attack ads of this election season, it is easy to lose sight of the real issues at stake. And with so many candidates and a wide range of political philosophies, the term horse race has begun to take on a new meaning.
The horse races of today are open events with large fields, and eligibility rules that consider age, sex, training and other factors. There are also handicap races in which horses carry a specified amount of weight depending on their ability. In addition, races can be run over varying distances from five to seven furlongs (three to four miles).
Among the most famous of these contests is the Kentucky Derby. In recent years it has drawn thousands of spectators to the track, and millions more watch it on television. The event has also become a huge public-entertainment business, with enormous purses and elaborate production values.
Amid all the glitz and glamour, it is important to remember that horses are prey animals. They do not like crowds. They are uncomfortable with noise, and they can easily become frightened or excited. As such, a large crowd can make horse racing a nerve-wracking affair.
At the starting gate, Mongolian Groom balked. Bettors like to look at the color of a horse’s coat in the walking ring before a race, as a bright coat is thought to indicate that it is ready to run. But on this day the horses’ coats were dark and dripping with sweat.
By the clubhouse turn, War of Will was holding on to a slim lead, with McKinzie and Mongolian Groom trailing a couple of lengths back.
Then, on the backstrech, the pack began to surge. As the horses ran into a pinkish light, they moved with enormous strides and hypnotic smoothness.
Companies that employ a horse race model for selecting a CEO say it offers a number of other benefits. Among them are the opportunity to select from a pool of qualified candidates and to cultivate a culture of leadership development in which future leaders are nurtured through successions of critical roles. But critics argue that the approach can be counterproductive by creating an overt competition for the top job, and that it may not produce a leader who is suited to a particular company or its current strategy. They also warn that it can derail the organization’s momentum, distract employees and even damage morale. Our updated roundup of research examines these concerns. In the end, companies that use a horse race model for CEO selection are best served by choosing the candidate who is most likely to meet their specific business needs.