I don’t see why you view those as sequential. If someone working at CMR is both investing in their human capital for decision-making under uncertainty and training others in decision-making under uncertainty, they are doing steps 1, 2, and 4 without really going through step 3 (or perhaps step 0).
You are right that the balance of effort expenditure should change with marginal benefits and marginal costs- but I would see this as five areas, not five steps. It seems likely there will always be room for actionable improvement in all of them.
You’re right: step implies the activities cannot occur simultaneously.
However, I wanted to order them in terms of which was easiest to perform properly in the absence of all others. Being sound of body and mind doesn’t require any of the other areas much, being incredibly powerful/wealthy is damn easy to screw up if you don’t have the brains, knowledge, and skills.
I don’t see why you view those as sequential. If someone working at CMR is both investing in their human capital for decision-making under uncertainty and training others in decision-making under uncertainty, they are doing steps 1, 2, and 4 without really going through step 3 (or perhaps step 0).
You are right that the balance of effort expenditure should change with marginal benefits and marginal costs- but I would see this as five areas, not five steps. It seems likely there will always be room for actionable improvement in all of them.
You’re right: step implies the activities cannot occur simultaneously.
However, I wanted to order them in terms of which was easiest to perform properly in the absence of all others. Being sound of body and mind doesn’t require any of the other areas much, being incredibly powerful/wealthy is damn easy to screw up if you don’t have the brains, knowledge, and skills.