Cybersecurity is a crucial aspect of any business. Business leaders should implement these systems with caution and in a proactive manner, as they may be targeted by cyberattacks. Business development includes identifying new opportunities, developing and maintaining relationships with customers, forming strategic partnerships, and developing strategies to boost profits. It affects almost every department in a business, from marketing to HR.
To answer the question of how a company’s cyber security adoption affects its performance, we studied the impact on various organizational, technological and environmental factors on the firm’s determination to adopt these technologies. We employed the TOE framework to assess the impact of these factors on the organizations’ willingness and ability to adopt cybersecurity techniques.
The TOE framework consists of four parts: (1) perceived utility, (2) perceived ease-of-use and (3) observational. These three variables affected the organizations’ intention to adopt cybersecurity tools and also their performance. Additionally, competition pressure and vendor support also have a positive impact on the willingness of companies to adopt these technologies.
Cyberattacks are becoming more frequent and could cause severe damage to a company’s reputation as well as its financial and operational capabilities. The latest cybersecurity technology is able to help businesses avoid being harmed and improve the financial performance of their business. It’s time for us to change our mindset from viewing cybersecurity as a costly defensive expense to seeing it as a crucial business process that boosts growth.