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Beautiful business models, forward design thinking and wide ranging investments are key to successful innovation.

After examining Apple’s rejuvenation over the last 10 years Scott Anthony, speaking via Harvard Business Review, claimed that these three elements can help your company sustain success through any turbulent economic environment.

According to Anthony Apple was turning over a relatively meagre $3billion in 2000 but since the end of 2005 its stock has quintupled to around $250 billion – making it the third most valuable company in the world behind Microsoft and ExxonMobil.

Anthony believes that Apple’s success has been achieved because of its mission to continually push for faster innovation and not making the common mistake of relying on one product like iPod, sales of which have slowed considerably due to market saturation.

Many businesses think beautiful products will capture value. Anthony said that companies should try to create a beautiful business where every well thought out product compliments each other.

This happened with Apple thanks to iPod, iPhone, iTunes and AppExchange.

Also when thinking of the direction for your company look to the future and what you want to achieve.

“Competitors that chase Apple's latest release find themselves behind when six months later Apple introduces its latest and greatest offering," said Anthony.

Try to bring something new to the market or work on ways your can offer familiar services to customers in an innovative new way.

Firms should try to take a wide-ranging approach to innovation. Don’t be frightened to try out new, seemingly harebrained, ideas to revolutionize your company.

Anthony pointed out that everything you try will not be a world record-breaking success, look at Apple TV, but investing in ideas will pay off in the long run.