Cybersecurity technology is a vital component of business development. Business leaders must apply these systems with care and in a proactive manner, as they are susceptible to being targeted by cyberattacks. Business development encompasses searching for new opportunities, developing and maintaining relationships with customers, forming strategic alliances, and preparing strategies to increase profits. It impacts almost every aspect of a business from human resources to marketing.
To answer the research question, “How does a company’s adoption of cybersecurity technologies influence its performance?” we examined the impact of various technological, organizational and environmental factors on an organization’s intention to adopt these technologies. Specifically, we used the TOE framework (Turner, Odeberg, and Egan 2002; TOE) to investigate the effect of these variables on the organizations’ willingness to adopt cybersecurity technology.
The TOE framework consists of four elements: (1) perceived utility, (2) perceived ease-of-use and (3) the ability to observe. These three variables influenced organizations’ intention to adopt cybersecurity technologies and their performance. Additionally, competitive pressure and vendor assistance have also had a positive effect on the willingness of companies to adopt these technologies.
Cyberattacks are more frequent than ever and can cause significant damage to the reputation of online storage for business capital investment planning a company, its financial standing, and operational capabilities. Fortunately, the most recent cybersecurity tools can help companies avoid these abrasions and boost their financial performance. It’s the time to change our thinking about cybersecurity from viewing it as a high-cost defensive cost to seeing it as a business function that can drive growth.