Cybersecurity is an essential component of any business. However business leaders should implement these systems proactively and with caution, as they may be targeted by cyberattacks. Business development is about identifying new opportunities, establishing and maintaining relationships with customers, forming strategic partnerships, and creating strategies to boost profits. It impacts virtually every department within a business from marketing to human resources.
To address the research question of how a company’s cyber security adoption influences its performance, we examined the impact on various organizational, technological and environmental factors on the company’s decision to adopt these technologies. We utilized the TOE framework to examine the impact of these variables on the willingness of organizations and their ability to adopt cybersecurity technologies.
The TOE framework comprises four components: (1) perceived usefulness, (2) perceived ease of use and (3) observational capability. These three variables influenced companies’ decision to adopt cybersecurity techniques and their performance. Additionally, competitive pressure and vendor assistance have also had a positive effect on the willingness of companies to to adopt these technologies.
Cyberattacks are becoming more frequent and may cause severe damage to a company’s reputation, finances, and operational capabilities. The latest cybersecurity technologies are capable of helping businesses avoid being harmed and enhance the financial performance of their business. It’s time to change our thinking about cybersecurity from viewing it as a costly defensive expense to recognizing it as a business necessity that boosts growth.
