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
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The Corvus | September 2019