Cybersecurity technology is a vital component of business development. However the business owners must implement these systems strategically and cautiously, as they could be targeted by cyberattacks. Business development involves identifying new opportunities, creating and maintaining relationships with customers, creating strategic partnerships, and establishing document safety with secure viewing and watermarking strategies to increase profits. It impacts nearly every department in a business, from marketing to HR.
To address the research question of how a company’s cyber security adoption influences its performance, we analyzed the effect of various organizational, technological and environmental factors on an company’s desire to adopt these technologies. We used the TOE framework to study the impact of these factors on the organization’s willingness and capacity to adopt cybersecurity technologies.
The TOE framework comprises four components: (1) perceived usefulness, (2) perceived ease of use, and (3) observability. We discovered that these three factors influenced the organizations’ intentions to adopt cybersecurity technologies, as well as their performance. Additionally, competitive pressure as well as vendor assistance were also a factor on the companies’ willingness adopt these technology.
Cyberattacks have become more frequent and could cause serious damage to businesses’ reputation financial, operational, and financial capabilities. Fortunately, the latest cybersecurity technology can help businesses avoid these abrasions and boost their financial performance. It’s time to change in mindset, from seeing cybersecurity as a cost-effective defensive expense to accepting it as a crucial business function that drives growth.
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