08 Jul Business Development and Cybersecurity
Cybersecurity technologies are a vital element of business development. Business leaders should implement these systems with caution and be proactive, as they may be targeted by cyberattacks. Business development involves identifying new opportunities, developing and maintaining relationships with customers, creating strategic partnerships, and developing strategies to increase profits. It is a major concern for every department in a company from marketing to human resources.
To answer the question of how a company’s cybersecurity adoption influences its performance, we examined the impact of a variety of organizational, technological, and environmental factors on an company’s decision to adopt these technologies. We utilized the TOE framework to study the effect of these factors on organizations’ willingness and capability to adopt cybersecurity technology.
The TOE framework is composed of four parts: (1) perceived utility, (2) perceived ease-of-use and (3) observability. We discovered that these three factors influence the decision-making of organizations to adopt cybersecurity techniques, as well as their performance. In addition, competition pressure and vendor support also had an impact on the companies’ willingness adopt these technologies.
Cyberattacks are becoming more frequent and can result in serious damage to businesses’ reputation financial, operational, and financial capabilities. The latest cybersecurity technologies are capable of helping businesses avoid the aforementioned scratches and boost financial performance. It’s time to make a shift in perspective, moving from viewing cybersecurity as a cost-effective defensive expense to accepting it as a crucial business function driving growth.
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