Horse racing has been an important part of human culture since prehistoric times. Archaeological evidence shows that people have raced horses for centuries in cultures all around the world, including Ancient Greece, Ancient Rome, Babylon, Syria and Egypt. In modern times, horse races are mostly held on tracks in the United States and other countries. They are watched by millions of people, and bets are placed on the outcome.

For a horse to compete in a horse race, it must have certain requirements. It must be of a breed that is permitted to race and must have the proper pedigree. It also must be able to run at the required speed and have a stable body condition. Ideally, the horse will have a trainer and jockey who can help it prepare for the race.

While horse race may seem like a glamorous sport in which spectators show up in fancy outfits and sip mint juleps, the reality is much grimmer. Thoroughbred racehorses are forced to sprint–often backed by the use of whips–at speeds that strain their bodies and cause serious injuries. They are often so tired by the end of a race that they must be coaxed to finish.

The process of training a horse to race requires time and patience, as well as the knowledge and skill of an experienced trainer. A runner will begin with routine jogs or gallops in the early morning, then gradually be asked for more exercise. This is called working or breezing, and it allows the trainer to gauge a runner’s level of fitness and readiness for a particular event. The runner will usually start by jogging and then move to a faster pace for a set distance, or workout, which is timed.

A horse that starts a workout at too fast of a pace can damage its joints and muscles, so trainers carefully monitor the runner’s progress. When a runner is considered ready to race, he will be entered in a maiden special weight or allowance race. Then, he can proceed to a “two other than” race, which is an allowance race for horses that have not won two other races of the same type.

Proponents of the horse race strategy argue that it signals to the company’s leadership and staff that it is committed to identifying high potential executives, grooming them through a series of functional assignments, stretch opportunities and putting them to the test in increasingly challenging roles. It can help to ensure that the company has several capable leaders in the pipeline when the time comes for a new CEO, and it can keep the selection process from becoming an overt power struggle. However, many boards of directors are concerned that an overt horse race for the top job will suck the energy from the rest of the organization and risk a delay in meeting critical business goals. Consequently, they strive mightily to limit the duration of the contest.