Cybersecurity technology is an essential element of business development. Business leaders must use these systems with caution and proactively, as they are susceptible to being targeted by cyberattacks. Business development involves identifying new opportunities, establishing and maintaining relationships with customers, forming strategic partnerships, and developing strategies to increase profits. It impacts virtually every aspect of 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 effects of various technological environmental, organizational and social factors on an organization’s intentions of adopting these technologies. We utilized the TOE framework to examine the impact of these factors on the organization’s willingness and ability to adopt cybersecurity techniques.
The TOE framework is composed of four components: (1) perceived utility, (2) perceived ease-of-use and (3) observability. These three variables affected the organizations’ intention to adopt cybersecurity technology and their performance. In addition, competitive pressure and vendor assistance also had an impact on the companies’ willingness adopt these technologies.
Cyberattacks are more frequent and may cause grave damage to a company’s reputation as well as its financial and operational capabilities. The most advanced cybersecurity tools are able to help businesses avoid the aforementioned scratches and boost their the financial performance of their business. It’s time to change our perspective from a merging companies effectively view of cybersecurity as a high-cost defensive cost to seeing it as a business necessity which drives growth.