Cybersecurity technology is a vital component of business development. Business leaders should implement these systems cautiously and proactively, as they may be targeted by cyberattacks. Business development includes looking for new opportunities, establishing and maintaining connections with customers, forming strategic partnerships, and preparing strategies to boost profits. It impacts almost every department within a company from HR to marketing.
To answer the research question, «How does a company’s adoption of cybersecurity technologies affect its performance?» we examined the effects of various technological, organizational and environmental factors on an organization’s intentions to adopt these technologies. We employed the TOE framework to examine the impact of these elements on organizations’ willingness and capacity to adopt cybersecurity technologies.
The TOE framework is composed of four components: (1) perceived utility, (2) perceived ease-of-use and (3) observability. These three variables affected the companies’ decision to adopt cybersecurity tools as well as their performance. In addition, competitive pressure and vendor support have a positive impact on the companies’ willingness to adopt these technologies.
Cyberattacks are more frequent and could cause serious damage to businesses’ reputation as well as its financial and operational capabilities. Fortunately, the most up-to-date cybersecurity tools can help companies stay clear of these scratches and boost their financial performance. It’s time to change in perspective, moving from viewing cybersecurity as a costly defensive expense to embracing it as an essential business process that can drive growth.
