The document discusses making annual reports more effective by discovering their latent power through benchmarking content, engaging audiences, and reflecting a company's positioning. It notes how Indian annual reports have evolved from a compliance focus to a more strategic approach. Globally, just 12 Indian companies have appeared in the top annual reports over 19 editions, with Infosys having the most appearances. The document outlines different "riding options" or approaches for annual reports, and key priorities like storytelling, innovation, and being relevant in the digital world. It provides examples of engaging annual reports from Entergy and J&K Bank that tell visual stories. The document advocates innovating to differentiate and tuning into digital and social media for annual reports.