Cybersecurity is a crucial component of business development. However the business owners https://pebblefuturefest.com/biotech-due-diligence-checklist-3-main-pitfalls/ must implement these systems strategically and with caution, since they could be targeted by cyberattacks. Business development includes looking for new opportunities, developing and maintaining relationships with customers, forming strategic partnerships, and developing strategies to boost profits. It impacts nearly every department in a business, from marketing to HR.

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 intentions to adopt these technologies. We used the TOE framework to assess the effect of these factors on the willingness of organizations and their ability to adopt cybersecurity techniques.

The TOE framework includes four components: (1) perceived usefulness, (2) perceived ease of use and (3) observability. We discovered that these three factors influence the decision-making of organizations to adopt cybersecurity technology, as well as their performance. Additionally, competitive pressure and assistance from vendors were also a factor on the companies’ willingness adopt these technology.

Cyberattacks are more frequent than ever and can cause severe damage to a company’s reputation, financial standing, and operational capabilities. Fortunately, the latest cybersecurity tools can help companies avoid these abrasions and boost their financial performance. It’s the time to make a change in mindset, from seeing cybersecurity as a costly security expense to accepting it as a key business function driving growth.