Horse races, whether of chariots or horses carrying riders on bare backs, have been popular forms of public entertainment for centuries. Modern rules and governance of racing vary from nation to nation, but the sport is almost universally regarded as being a dangerous activity for both the participants and spectators.
The first recorded horse race occurred in the ancient Greek Olympic Games of 700-40 bce, and organized chariot and mounted racing continued into prehistory. The earliest form of organized horse races, however, are believed to have been four-hitch chariot races of light scythes. The sport has since evolved into an international sport characterized by thoroughbred racing, with the fastest horses winning the highest prizes.
One of the most important aspects of horse racing is the training of the animals involved. Horses must be well conditioned to handle the stress of competition and the exertion of running on a hard track at high speeds. As such, most trainers spend time preparing their horses with extensive work on the racetrack, in the paddock, and on the road. This extensive work focuses on a number of key areas, including endurance, strength, and the ability to run at high speed over long distances.
During the actual race, horses are led into the starting gates, which are usually electrically operated. Once they are all safely positioned, the starter will give his command, and the race is off. As they accelerate, the horses jockeys must keep them on a straight course and avoid any jumps, which could throw them off their stride and slow down their speed. In addition, a patrol judge and stewards watch the race for any rule violations and check that all horses cross the finish line at the same time.
The prize money awarded to the winners of a race varies from country to country, but is often quite large. In fact, the purse at Yonkers, a New York track, is one of the largest in the world. These enormous sums of money are intended to attract investors who come in with “both fists full,” says Joe Faraldo, president of the Standardbred Owners Association of New York. Racing proponents defend this massive infusion of capital as an effective way to stimulate a multibillion-dollar industry, from the breeders who supply the horses to the trainers who prepare them and the farmers who grow the carrots.
Many corporate leaders embrace the horse race approach to succession planning, arguing that it offers a valuable process for selecting the best candidate from among several highly skilled executives. In the right hands, it can help create a culture of leadership development, in which future stars are spotted early and nurtured in a series of critical roles through which they gain the competencies and seasoning necessary for the top job. But the strategy is not without its critics, who argue that it can result in a protracted succession horse race that saps a company of business momentum and can even lead to the failure of the firm.
