Cybersecurity is a key component of any business. Business leaders should implement these systems cautiously and with a sense of urgency, since they could be targeted by cyberattacks. Business development encompasses searching for new opportunities, establishing and maintaining connections with customers, forming strategic partnerships, and developing strategies to increase profits. It impacts almost every department within a company, from marketing to HR.
In order to answer the research question, “How does a company’s use of cybersecurity technology affect its performance?” we examined the impact of various technological elements, environmental and organizational factors on an organization’s intention to adopt these technologies. We used the TOE framework to examine the impact of these variables on the organizations’ willingness and capability to adopt cybersecurity technology.
The TOE framework is comprised of four elements: (1) perceived usefulness, (2) perceived ease of use, and (3) the ability to observe. These three variables influenced organizations’ intention to adopt cybersecurity techniques and their performance. In addition, competition pressure and vendor support also had an impact on the companies’ willingness adopt these technology.
Cyberattacks are more frequent than ever before and can cause severe damage to the reputation of a company, its financial standing and operational capabilities. Fortunately, the latest cybersecurity technology can help businesses avoid these abrasions and boost their financial performance. It’s the time to make a change in perspective, moving from viewing cybersecurity as a costly defensive expense to accepting it as an essential business function driving growth.