A horse race is a leadership selection process in which several candidates are given equal opportunity to compete for the CEO position within a short time frame. While some governance observers question the validity of this method, others say that it can be effective in choosing a highly skilled leader.
Nevertheless, the horse race can cause disruptions if not done well. For example, it may sever the ties of other senior executives who were not selected, and it can also disenfranchise key leaders deeper in the organization who aligned themselves with an unsuccessful candidate. This can create a rift that will have lasting repercussions on the company’s performance and the overall culture.
Some journalists are critical of the horse race, particularly when it is used in politics, where it often results in reporters focusing exclusively on two candidates running neck and neck in polls, to the detriment of third-party contenders and primary voters. But in business, many companies employ this technique to select new executives and other key management roles. Aside from its obvious benefits, the horse race can help companies identify talented candidates and develop them over a long period of time through a series of challenging leadership roles.
For a long time, the spectacle of horse races attracted throngs of people to grandstands and betting parlors. It was the power and beauty of the horses that most drew spectators, but there were other draws, too. For example, many bettors, especially the hardcore daily bettors, cheered their favorite horse by name instead of just by number. This was especially true of Seabiscuit, who captured the hearts of many fans, including those who had never seen him in person.
Many people today are concerned about animal welfare and are calling for reform or even outright bans of horse racing. They note that racehorses are victims of a multibillion-dollar industry that is rife with drug abuse and injuries and that many horses’ careers end at the slaughterhouse. They also point out that the unnatural training and confinement of a racehorse can lead to mental and physical suffering, which is sometimes displayed in compulsive behavior such as cribbing.
In addition, the incredibly dangerous jumping that is required in some races (the Grand National is notorious for this) causes horrific and fatal injuries, with horses often breaking their slender front legs at such obstacles as The Chair, Becher’s Brook, and Canal Turn. And when horses do complete their “careers,” there is rarely any plan for them other than to use them in equestrian pastimes or slaughter them and sell their meat. Those who care about the welfare of animals can show their disapproval by boycotting horse racing. And for those who like a little flutter, they can place their bets on football games or other sports that don’t require the mistreatment of these intelligent creatures.