As general manager of the New Ventures Group (NVG), a company-within-the-company effort to revolutionize the way Sylvania group makes lighting products, he's betting that things have changed, even if he doesn't get wafting watts. Screw-in lightbulbs have been the most predictable of businesses. Incandescent bulbs in the US will be phased out starting in 2012, while the Energy Act of 2007 dictates that bulbs need to be 70% more efficient by 2020. Although compact-fluorescent lightbulbs are the popular alternative today, light-emitting diodes (LEDs) look to be the long-term replacement for incandescents because they basically do not burn out. NVG, as the group is known, has created table runners; showerheads, coasters, and the popular Dot-It stick-ups. NVG -- which banged out 20 new products in the last fiscal year -- is the fastest-growing unit of Sylvania's billion-dollar LED business and already profitable in its second year, with revenues due to triple by 2013.
Shine a Light Michael Fitzgerald Fast Company; Apr 2009; 134; Docstoc pg. 46 Reproduced with permission of the copyright owner. Further
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