Business Development and Cybersecurity

Cybersecurity is a key component of any business. Business leaders should use these systems with caution and with a sense of urgency, since they could be targeted by cyberattacks. Business development includes identifying opportunities to grow, establishing and maintaining relationships with customers, forming strategic partnerships, and establishing strategies to boost profits. It impacts nearly every department within a company, from marketing to HR.

To address the research question of how a company’s cyber security adoption affects its performance, we studied the impact of various organizational, technological and environmental factors on an firm’s determination to adopt these technologies. We specifically used the TOE framework (Turner, Odeberg, and Egan 2002; TOE) to investigate the effect of these variables on the organizations’ willingness to adopt cybersecurity technologies.

The TOE framework comprises four components: (1) perceived usefulness, (2) perceived ease of use, and (3) the ability to observe. We discovered that these three factors influence the decision-making of organizations to adopt cybersecurity technology as well as their performance. In addition, competition pressure and vendor support also had an impact on the companies’ willingness to adopt these technologies.

Cyberattacks are becoming more frequent and can result in grave damage to a company’s reputation, finances, and operational capabilities. The most recent cybersecurity technologies are able to help businesses avoid these scratches and improve the financial performance of their business. It’s time for us to change our perception of cybersecurity from seeing it as a virtual data rooms in business operational streamlining strategies high-cost defensive cost to seeing it as a function that can drive growth.