Cybersecurity is a crucial element of business development. However business leaders should implement these systems proactively and with caution, since they may be targeted by cyberattacks. Business development involves looking for new opportunities, establishing and maintaining connections with customers, forming strategic partnerships, and preparing strategies to boost profits. It affects virtually every aspect of a business from marketing to human resources.
To answer the question of how a company’s cyber security adoption influences its performance, we examined the impact of various organizational, technological, and environmental factors on the company’s desire to adopt these technologies. We employed the TOE framework to examine the impact of these variables on the organization’s willingness and capability to adopt cybersecurity technology.
The TOE framework is comprised of four components: (1) perceived utility, (2) perceived ease-of-use and (3) visibility. We found that these three variables influence the decision-making of organizations to adopt cybersecurity techniques, as well as their performance. In addition, competition pressure and vendor support also had a positive impact on the willingness of companies to take on these technologies.
Cyberattacks are more frequent and can cause serious damage to businesses’ reputation as well as its finances and operational capabilities. The latest cybersecurity technology is capable of helping businesses avoid the aforementioned scratches and enhance financial performance. It’s time to shift our perception of cybersecurity from seeing it as a high-cost defensive cost to seeing it as a crucial business process that boosts growth.
