The Art of the Horse Race
Horse races have captivated the human imagination for centuries. Whether in the drama of a Kentucky Derby or the epic contest between the gods’ steeds in Norse mythology, they offer something for every fan of spectacle and pageantry. But in the age of heightened awareness of animal welfare, the sport has also been scrutinized for its treatment of the animals who are its stars. Last year, for example, one of the last remaining dirt racing tracks in New York, Yonkers, closed after a horse named Havnameltdown died from injuries sustained during a race.
The steeds trot out onto the track and begin to build speed as the announcer shouts, “And they’re off!” The clip-clop of their hooves grows into a cacophony that threatens to deafen the crowd of spectators. But before long the jockeys start to make their moves. The seasoned veterans move their mounts to a favorable position on the rail, while those new to the game seek out advantageous spots on the outside. A few riders even switch sides of the track to get a better view of the action.
As the field takes shape, the horses are assigned weights based on their age, sex and past performance. In addition, jockeys must meet certain eligibility requirements to be allowed to ride a particular horse. This is because the art of horse riding evolved into a highly technical profession that requires special skills and training. The earliest records of horse racing are found in Ancient Greece, around 700 to 40 B.C., but it soon spread throughout the world and became a central feature of cultural life in many countries.
Although critics point out that horse races are a form of gambling and that the state uses money from betting to keep the industry alive, proponents say the proceeds benefit the entire horseracing economy, from breeders to trainers to farmers who grow carrots for the equine athletes. They argue that if the government were to shut down racing, it would kill the thousands of jobs and billions in economic activity.
The horse race strategy has also been used in management at some companies, where the board chooses a succession candidate by allowing several executives to compete for the role. Proponents of this approach argue that it signals a board’s faith in the company’s leadership development processes and allows high performers to see a clear path to more senior roles. Critics, however, fear that a prolonged horse race could derail the company’s business momentum and that the selection process may not be transparent enough to ensure the best choice is made. Moreover, some boards struggle to overcome the perception that an overt competition for a top position is a sign of poor governance and weak management. Regardless of the merits of this approach, it’s important for directors to consider how a horse race is conducted and to devise strategies to minimize its negative effects.