A horse race is a contest of speed between horses that are either ridden by jockeys or pulled by sulkies and their drivers. The winner is the first to cross a finish line within a set amount of time. A horse race has been a popular way to choose a new chief executive officer at a number of highly admired companies. While some executives and governance observers are uncomfortable with the horse race approach — an overt competition for the CEO role among several recognized candidates within a limited time frame — it has undeniably been successful in producing a series of exceptional leaders at giants such as General Electric, Procter & Gamble, GlaxoSmithKline and Abbott Laboratories.
The basic concept of the horse race has undergone little change over centuries. In its earliest form it was a primitive contest of speed or stamina between two horses, and its essential feature remains the same: the horse that crosses the finish line first is the winner. As the sport evolved into a spectacle involving large fields of runners, sophisticated electronic monitoring equipment and enormous sums of money, it developed from a diversion for the leisure class to a major public-entertainment business.
There are many factors that affect the outcome of a horse race, and each is significant in its own way. For example, the conditions of the track can significantly impact a horse’s performance. A muddy track slows down the horses, while a dry track is optimal for speed. The skill and judgment of a rider are also important in coaxing maximum speed from his horse.
In the world of harness racing, most of the races are paced at a distance of one mile, and the speed during the race can reach 40 miles per hour. To help horses achieve such incredible speeds, they use a “pacing gait” that requires them to keep their front and back legs on the same side moving in unison. To ensure that they do not “break stride,” most pacers wear hobbles. However, some harness horses do not require the use of hobbles and are capable of running a mile in one minute, forty five seconds.
