Business Development and Cybersecurity

Cybersecurity is a key component of any business. However business leaders should implement these systems in a proactive manner and with caution, because they may be targeted by cyberattacks. Business development involves identifying new opportunities, developing and maintaining relationships with customers, creating strategic partnerships, and developing strategies to boost profits. It impacts nearly every department within a company from HR management efficiency improved with automated systems to marketing.

In order to answer the research question, “How does a company’s adopting cybersecurity technologies affect its performance?” we examined the impact of different technological, organizational and environmental factors on an organization’s decision of adopting these technologies. We used the TOE framework to assess the effect of these factors on organizations’ willingness and capacity to adopt cybersecurity technologies.

The TOE framework consists of four elements: (1) perceived utility, (2) perceived ease-of-use and (3) observational. We found that these three variables influence the decision-making of organizations to adopt cybersecurity techniques, as well as their performance. Additionally, competitive pressure and vendor assistance also had a positive impact on the willingness of companies to take on these technologies.

Cyberattacks are more frequent than ever and can cause significant damage to a company’s reputation, financial standing, and operational capabilities. Fortunately, the most recent cybersecurity technologies can help companies avoid these abrasions and improve their financial performance. It’s time for us to change our perception of cybersecurity from seeing it as a costly defensive expense to recognizing it as a business necessity that can drive growth.