Business Development and Cybersecurity
pCybersecurity technology is an essential component of business development. However, business leaders must implement these systems strategically and with caution, because they may be targeted by cyberattacks. Business development includes looking for new opportunities, creating and maintaining relationships with customers, entering strategic partnerships, and preparing strategies to boost profits. It affects nearly every department within a company, from marketing to HR.
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pTo address the research question of how a companys cybersecurity adoption influences its performance, we looked at the impact of various technological, organizational, and environmental factors on the companys decision to adopt these technologies. In particular, we utilized the TOE framework (Turner, Odeberg, and Egan 2002; TOE) to investigate the impact of these factors on the willingness of organizations to adopt cybersecurity technology.
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pThe TOE framework has four components: (1) perceived usefulness, (2) perceived ease of use and (3) the ability to observe. These three variables affected the companies plans to adopt cybersecurity technology as well as their performance. Additionally, competition pressure and vendor support had a positive effect on the willingness of companies to adopt these technologies.
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pCyberattacks are more frequent and can result in serious damage to businesses reputation as well as its finances and operational capabilities. The most advanced cybersecurity tools are capable of helping businesses avoid the aforementioned scratches and enhance the financial performance of their business. Its time to shift our perspective from a view of cybersecurity as a costly defensive expense to seeing it as a function which drives growth.
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