Cybersecurity is an essential aspect of any business. However business leaders should implement these systems with a sense of urgency and cautiously, as they may be targeted by cyberattacks. Business development is about identifying new opportunities, establishing and maintaining relationships with customers, forming strategic partnerships, and creating strategies to boost profits. It impacts virtually every department within a business from marketing to human resources.
To answer the research question, “How does a company’s adoption of cybersecurity technologies affect its performance?” we examined the impact of various technological, organizational and environmental factors on an organization’s decision of adopting these technologies. We used the TOE framework to study the impact of these variables on the organizations’ willingness and ability to adopt cybersecurity technologies.
The TOE framework consists of four components: (1) perceived utility, (2) perceived ease-of-use, and (3) observability. We discovered that these three factors affected the companies’ plans to adopt cybersecurity technology and their performance. Additionally, competitive pressure and link vendor support also had a positive impact on the willingness of companies to to adopt these technologies.
Cyberattacks are becoming more frequent and may cause severe damage to a company’s reputation as well as its financial and operational capabilities. Fortunately, the newest cybersecurity technologies can help companies stay clear of these scratches and boost their financial performance. It’s the time to change our thinking about cybersecurity from viewing it as a cost-effective defensive expense to recognizing it as a business necessity that drives growth.