Dr. Steve Nichols and Dr. Norman Kaderlan visited Nexus on September 25th to conduct a classroom session on “Functional Analysis for Entrepreneurs” with the second cohort of startups.
Functional analysis is a versatile tool for designing your venture; it provides a basis for development of technology roadmap and defining the business model. It uses concepts such as a customer buy decision map, current technology map and a technology development map. The intersection of all these maps provides the basis for functional analysis.
The entrepreneurs got hands on experience and worked directly under the supervision of Dr. Nichols and Dr. Kaderlan on their technologies to develop their decision map, current technology map and technology development map to understand the gaps in their technologies and develop insights.
It was an eye opener for some startups while for others it provided an insightful alternative of how to define their business and develop their business model. The startups were also given exclusive access to software specifically designed for functional analysis.
Dr. Steven Nichols currently serves as the Director of the MSE in Engineering Management Program in the Cockrell School of Engineering at The University of Texas at Austin and is a professional engineer and licensed attorney.
Norman Kaderlan, Ph.D., is a principal of The Kaderlan Group, holds a doctorate in management and consults with startups around the world on questions of strategy.