Why do events like the transit of Venus facinate so many people?  One way to consider it is by applying the conditions presenting in a ‘resource based view’ of an asset.  Companies who subscribe to the RBV view (which is most companies in the US today, in some way, whether they know it or not) place an emphasis on strategic assets.  A strategic asset has four attributes: Valuable, Rare, Inimitable, and Non-substitutable.  These are known as the VRIN attributes.

Consider the transit of Venus.  I suggest it has three of the four attributes. It is certainly rare, inimitable, and non-substitutable. But is it valuable?  For scientists, it has had value for centuries as it has contributed to research about our universe, especially in less technically adept times.  But for the common population, perhaps the other three attributes combined give it value – the chance to see something that won’t be seen again. Truly a once in a lifetime event, which is special in our world of easy recurrance, where almost anything can become a ‘do over’.

Regardless, it is for sure especially valuabe to people who market those little filters you can use to view the small black dot as it treks across the face of the sun.

Here’s a spectacular picture from Nasa, published by Reuters: