Liquid crystals are organic materials constituting of molecules characterized by strong shape anisotropy. Many studies unambiguously showed that some important physical effects observed in liquid crystals are strongly dependent on the shape anisotropy of their molecules. In this talk, some of the molecular shape related effects in liquid crystals, which have a potential for applications in liquid crystal displays (LCDs) and photonic devices, was overviewed. Photo-induced alignment transition from planar to vertical, flexoelectric polarization in short pitch cholesteric liquid crystals, alignment of bent core nematics as well as field driven transition from birefringent to optically isotropic state in these materials are among those effects on which this talk was focused. The role of the molecular shape was discussed with focus on the impact, which it has on the anchoring, flexoelectric, optical and electro-optical properties of the liquid crystals.