The Fuzzy Industry Maturity Grid and its Application to the Singapore Property Sector

Abstract

This paper introduces the fuzzy industry maturity grid as an extension of the industry maturity grid for diagnosing an economic sector or an industry, to identify fast-growing sectors and to map out growth strategies for sectors showing signs of maturity. By incorporating fuzzy set theory and aggregation models in decision-making, the conventional industry maturity grid is enhanced from a qualiative analysis to a semi-quantitative method which captures an expert's knowledge of the sector or industry, inclusive of his judgement. It does this via using a linguistic scale describing the characteristics under each of the three main dimensions of the IMG to form fuzzy sets; a hierarchical aggregation of information based on fuzzy aggregation operators; and a conceptual hypercube to determine the rank and ranking size of the perscribed strategies. The application of the fuzzy industry maturity grid is illustrated with an example on the Singapore property sector.