Why are executive-types so into golf?
Here’s a few reasons:
[ul][li]It’s competitive, but doesn’t require any loss of dignity to go all out.[/li][li]You don’t have to be in shape (and no injuries), but a lot of practice will pay off and look impressive.[/li][li]It’s expensive, both in equipment costs and in actual playing.[/li][li]It has historically been very exclusive.[/li][li]A foursome is a relatively intimate setting for business-types. Smaller than a standard meeting.[/li][li]They have clubhouses where you can hang out afterwards.[/li][/ul]
Doesn’t require any loss of dignity? You’ve not spent much time on the golf course, have you SmackFu?
Let’s not forget that most “executives” tend to be older folk like me.
I’m 53, and like participating in sports - but as a practical matter, I’m just too old to play most sports. Not only can I play golf, I can actually visualize myself as being pretty good at it. (I’m not, but I can visualize it. 
)
You’ve also got plenty of time to chat with the folks in your foursome while you’re out on the course (and you’re not out of breath while you’re doing so).