Cybersecurity is an essential aspect of any business. However business leaders should implement these systems proactively and cautiously, as they may be targeted by cyberattacks. Business development involves identifying opportunities to grow, establishing and maintaining relationships with customers, creating strategic partnerships, and establishing strategies to increase profits. It is a major concern for every department of a company from marketing to human resources.
To answer the question of how a company’s cyber security adoption affects its performance, we analyzed the effect of a variety of organizational, technological and environmental factors on the firm’s determination to adopt these technologies. We employed the TOE framework to analyze the effect of these factors on the willingness of organizations and their ability to adopt cybersecurity techniques.
The TOE framework is comprised of four elements: (1) perceived usefulness, (2) perceived ease of use and (3) observability. These three variables affected the companies’ intentions to adopt cybersecurity technology and also their performance. Additionally, competition pressure and vendor support also contributed to the companies’ willingness to adopt these technologies.
Cyberattacks are more frequent and could cause severe damage to a company’s reputation as well as its financial and operational capabilities. Fortunately, the newest cybersecurity technology can help businesses avoid the abrasions and improve their financial performance. It’s the time to change our perspective from a view of cybersecurity as a high-cost defensive cost to seeing it as a business function which drives growth.
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