Business Development and Cybersecurity
Cybersecurity is a crucial element of business development. Business leaders must implement these systems cautiously and be proactive, as they may be targeted by cyberattacks. Business development includes looking for new opportunities, creating and maintaining relationships with customers, forming strategic partnerships, and developing strategies to increase profits. It impacts nearly every department within a company from HR to marketing.
To address the research question of how a company’s cybersecurity adoption influences its performance, we examined the impact on various organizational, technological and environmental factors on the organization’s intention to adopt these technologies. We utilized the TOE framework to study the effect of these factors on the organization’s willingness and capability to adopt cybersecurity technology.
The TOE framework is comprised of four elements: (1) perceived usefulness, (2) perceived ease of use, and (3) observability. These three variables influenced organizations’ intention to adopt cybersecurity tools and also their performance. Additionally, competition pressure and vendor support contributed to the willingness of companies to adopt these technologies.
Cyberattacks are more frequent than ever before and can be devastating to a company’s reputation, financial standing, and operational capabilities. The most advanced cybersecurity tools are capable of helping businesses avoid being harmed and improve financial performance. It’s time to change our mindset from viewing cybersecurity as an expensive defensive expense to recognizing it as a crucial business process that drives growth.