Cybersecurity technology is a vital component of business development. However business leaders should implement these systems strategically and with caution, as they could be targeted by cyberattacks. Business development includes identifying new opportunities, developing and maintaining relationships with customers, forming strategic partnerships, and recommended you read – how to measure the cost effectiveness of a data room developing strategies to increase profits. It impacts nearly every department within a company, from marketing to HR.
To answer the research question, “How does a company’s adopting cybersecurity technologies affect its performance?” we examined the impact of various technological elements, environmental and organizational factors on an organization’s decision of adopting these technologies. In particular, we utilized the TOE framework (Turner, Odeberg, and Egan 2002; TOE) to investigate the influence of these factors on organizations’ desire to adopt cybersecurity technologies.
The TOE framework is composed of four components: (1) perceived utility, (2) perceived ease-of-use and (3) the ability to observe. We discovered that these three factors influenced the organizations’ intentions to adopt cybersecurity techniques and also their performance. In addition, competition pressure and vendor assistance were also a factor on the companies’ willingness adopt these technologies.
Cyberattacks are more frequent than ever and can cause significant damage to the reputation of a company, its financial standing and operational capabilities. Fortunately, the most recent cybersecurity technology can help businesses steer clear of these scratches and improve their financial performance. It’s time to change in mindset, from seeing cybersecurity as a costly defensive expense to accepting it as a crucial business function that drives growth.
