Cybersecurity technologies are a vital element of business development. However, business leaders must implement these systems proactively and with caution, as they are susceptible to being targeted by cyberattacks. Business development includes identifying new opportunities, establishing and maintaining relationships with customers, creating strategic partnerships, and business development and cyber technologies establishing strategies to increase profits. It affects nearly every department in a business from HR to marketing.
In order to answer the research question, “How does a company’s adoption of cybersecurity technologies affect its performance?” we examined the effects of various technological elements, environmental and organizational elements on an organization’s intent of implementing these technologies. In particular, we utilized the TOE framework (Turner, Odeberg, and Egan 2002; TOE) to investigate the impact of these factors on the organizations’ willingness to adopt cybersecurity technologies.
The TOE framework includes four components: (1) perceived usefulness, (2) perceived ease of use and (3) being observable. These three variables affected the companies’ plans to adopt cybersecurity technologies and their performance. In addition, competitive pressure and assistance from vendors have also had a positive effect on the companies’ willingness take on these technologies.
Cyberattacks are becoming more frequent and can cause serious damage to businesses’ reputation, finances, and operational capabilities. The most recent cybersecurity technologies are capable of helping businesses avoid being harmed and improve financial performance. It’s time for a change in perspective, moving from viewing cybersecurity as a cost-effective defensive expense to seeing it as a key business function that is driving growth.
