The Corvus Magazine 5th Edition | Page 40

stored and processed; the evolution of analogue and mechanical systems into digitally enabled structures. Given the overlap of the digital revolution and the growth of the millennial, many have opined that millennials are a catalyst for the digital revolution currently ongoing, rather than just a beneficiary of it. Unlike the generations before them, millennials were born in an era of tremendous advancement in electronic and information technology that resulted in the proliferation of digital devices and adoption of digital information processing and record keeping technology. Thus, their interests and aspirations have been shaped by the impact of the digital revolution on the society in which they grew; their minds exploring and learning how to leverage technology to suit their purposes. It is therefore not surprising that research highlights that millennials are the most highly educated generation with approximately 39% of them as holders of Bachelors’ degree at the minimum. Millennials have developed interest in fields like data science, cloud computing etc. and have proceeded to learn the requisite courses and develop the accompanying competences. we think, conduct business, learn and go about our daily lives. In his book The Innovator’s Dilemma, Harvard Business School Professor and Disruption Guru, Clayton Christensen described disruptive Innovation as how successful companies not only meet customer’s current needs but anticipate their unstated or future needs. He asserted that the theory of disruptive Innovation displaces an existing market, industry or technology and produces something new and relatively more efficient. He added that for a product or service to pass the disruption litmus test, it must be popular enough to displace and replace a conventional product or service. It must be creative and destructive at the same time, what is otherwise known as Creative Destruction. Creative Destruction, often used to describe the improvement and obsolescence caused by modern digital revolutions, is the oxymoron coined by Austrian economist Joseph Schumpeter. He used it to describe the process of industrial transformation that continuously revolutionizes the economic structure from within. His attempt to connect inventions with economic development saw him Disruption, loosely said, is that force that literally uproots and changes how 39 The Corvus | September 2019