Applying Grey Model and DEA for the Productivity Evaluation of Global Fitness Industry

Maintaining sustainable development is becoming an important issue for the fitness industry. This research proposes a hybrid approach based on grey model (GM) and Malmquist productivity index (MPI), to predict future business and measure operational performance of worldwide fitness manufactures over several time periods. From that, decision making units (DMUs) and managers can improve business performance and build a sustainable development strategy. The study conducted on 15 fitness manufactures, which have published their complete information on Google finance site. The result showed that eight manufactures increased in productivity while the other seven didn't. Technical change was more impact than efficient change in period 2012 – 2015. In general, both of them impact on fitness industry productivity. The results also reflect the fact that the performance change did not depend on company size. The study will be a useful reference for other industries as well.