Cybersecurity technology is a vital component of business development. Business leaders should implement these systems cautiously and proactively, as they could be targeted by cyberattacks. Business development involves identifying new opportunities, creating and maintaining relationships with customers, forming strategic partnerships, and developing strategies to boost profits. It is a major concern for every department in a company from marketing to human resources.
To address the research question of how a company’s cyber security adoption affects its performance we examined the impact on various organizational, technological and environmental factors on an company’s decision to adopt these technologies. We utilized the TOE framework to study the impact of these elements on the organizations’ willingness and ability to adopt cybersecurity techniques.
The TOE framework has four components: (1) perceived usefulness, (2) perceived ease of use, and (3) observability. We found that these three variables influenced the organizations’ intentions to adopt cybersecurity techniques as well as their performance. Additionally, competition pressure and vendor support also had a positive effect on the willingness of companies to adopt these technologies.
Cyberattacks have become more frequent and may cause serious damage to businesses’ reputation, finances, and operational capabilities. Fortunately, the latest cybersecurity technology can help businesses stay clear of these scratches and improve their financial performance. It’s the time to change our perspective from a view of cybersecurity as an expensive defensive expense to recognizing it as a function that drives growth.