Cybersecurity technology is an essential element of business development. Business leaders must implement these systems cautiously and in a proactive manner, as they may be targeted by cyberattacks. Business development encompasses searching for new opportunities, creating and maintaining relationships with customers, forming strategic alliances, and preparing strategies to increase profits. It affects virtually every department within a business from marketing to human resources.
In order to answer the research question, “How does a company’s adopting cybersecurity technologies affect its performance?” we examined the impact of different technological environmental, organizational and social factors on an organization’s decision to adopt these technologies. We employed the TOE framework to examine the impact of these variables on organizations’ willingness and capability to adopt cybersecurity technology.
The TOE framework is composed of four components: (1) perceived utility, (2) perceived ease-of-use and (3) visibility. We discovered that these three factors influenced the organizations’ intentions to adopt cybersecurity tools and also their performance. Additionally, competitive pressure and vendor support also had an impact on the willingness of companies to take on these technologies.
Cyberattacks have become more frequent and can result in serious damage to a business’s reputation financial, operational, and financial capabilities. Fortunately, the most recent cybersecurity tools can help companies stay clear of these scratches and improve their financial performance. It’s time to make a shift in perspective, moving from viewing cybersecurity as a costly defensive expense to seeing it as a vital business function driving growth.
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