Horse races are one of the world’s most popular spectator sports, and for good reason. They’re full of long-standing traditions, and they offer a level of drama that’s hard to match. The sport has also become increasingly sophisticated, with track conditions and veterinary care improving over the years. But perhaps the most important development in the industry is the emphasis on animal welfare, as race officials continue to find ways to make racing a safer and more humane experience for both horses and humans.
Horses have played an integral part in human civilization since prehistoric times, and the sport of horse racing traces its roots back to ancient Greece, where four-hitch chariot and mounted bareback races were popular forms of entertainment at the Olympic Games. As organized horse racing took hold in Europe, the sport began to spread to other parts of the globe as well.
By the 19th century, a series of rules began to emerge that helped organize horse races into the more formal, structured events that we know today. Eligibility criteria such as age, sex, birthplace, and prior race performance were established, and competition between races increased as demand grew for bigger prizes. The emergence of the first thoroughbred race horses — including those developed in North America and Britain — helped bring horse racing into the modern era.
There is no clear consensus on what makes a great horse race, but most agree that the greatest are those that reach their climax at the moment just before the outcome becomes resolved. This moment of truth is often defined by a horse’s final stride, as its rider tries to coax the last little bit of speed out of the animal.
Throughout the centuries, horse races have been an important part of the culture and heritage of nations around the world, from the ceremonial pageantry of major events to the sport’s role in myth and legend. In addition, many horse races provide an opportunity to place a bet on the outcome of the race.
Although some directors — sensitive about the increased scrutiny of board and company performance — are intensely fearful that a protracted succession horse race will lead to a loss of business momentum, companies that are most successful with this approach cultivate a culture in which people embrace competition for the top job and the notion that the best leader will emerge from the contest. Those companies also take the time to create a thorough and thoughtful succession plan that will ensure the next CEO has all of the qualities needed to succeed. In addition, they make sure that the process is timed and managed to avoid disruption of the company’s day-to-day operations.