A horse race is a contest of speed between horses that are either ridden by jockeys or pulled by drivers called sulkies. The practice has been around for thousands of years and has played an important role in various cultures throughout the world. Today, the sport is largely a spectator event, with people showing up in fancy clothing to watch and sip mint juleps. Behind the romanticized facade, however, lies a world of injuries and drugs. The animals are pushed to their limits and are often subjected to cocktails of legal and illegal substances that mask injuries and artificially enhance performance. Many of the horses suffer from painful conditions such as exercise-induced pulmonary hemorrhage, and they frequently die.
The competition for a CEO position can be like a horse race, especially in larger companies with multiple candidates. Some companies will go to extreme lengths to ensure that the right person gets the job, including holding a secret ballot or letting employees vote for their preferred candidate.
Regardless of the method used to select a new leader, a board should consider whether this kind of open competition is in the best interests of the company. The board should look at the capabilities of the candidates, the company’s culture and structure, and the current CEO’s record. In addition, it is important to think about the long-term impact on the organization.
The most important consideration is whether the company has the resources and cultural environment to support an overt contest. In many cases, a horse race is not appropriate because the result could be harmful to the company and its shareholders. A better approach may be to conduct a search with an external search firm.
A trainer will often try to enter a horse in a race that will suit it. For example, a horse that has been a disappointment in stakes races may be entered in an allowance race. Such races usually have a set amount of weight assigned to the horses, which is meant to balance out the chances of winning. The higher weights are given to the more experienced and successful horses.
It is not uncommon for the plans of a race to be changed at the last minute. Whether it is because a race doesn’t fill or an extra race is added, these changes can be frustrating for all involved. It is particularly challenging for horses that have been pointing to certain races as they might have to change their schedule.
When journalists frame elections as a horse race, it can have consequences for voters, candidates and the news industry itself. A new roundup of research examines the results of this form of coverage and how it is most prevalent in close races. The findings show that it is more common in large-chain newspapers and in states with swing seats. It is also more likely to appear in stories about third-party political candidates and in the weeks leading up to the election.
