Cybersecurity is an essential component of any business. However the business owners must implement these systems with a sense of urgency and with caution, since they are susceptible to being targeted by cyberattacks. Business development includes looking for new opportunities, creating and maintaining relationships with customers, entering strategic partnerships, and creating strategies to increase profits. It affects nearly every department within a company, from marketing to HR.
To answer the question of how a company’s cyber security adoption affects its performance, we studied the impact of a variety of organizational, technological and Data Room Costs environmental factors on the company’s decision to adopt these technologies. We specifically used the TOE framework (Turner, Odeberg, and Egan 2002; TOE) to investigate the impact of these factors on the organizations’ willingness to adopt cybersecurity technologies.
The TOE framework is composed of four parts: (1) perceived utility, (2) perceived ease-of-use, and (3) observational. These three variables influenced companies’ decision to adopt cybersecurity techniques and also their performance. Additionally, competitive pressure and vendor assistance also had a positive impact on the companies’ willingness to adopt these technologies.
Cyberattacks are more frequent than ever before and can cause severe damage to the reputation of a company, its financial standing, and operational capabilities. The most recent cybersecurity technologies are able to help businesses avoid the aforementioned scratches and boost their financial performance. It’s the time to change our thinking about cybersecurity from viewing it as a cost-effective defensive expense to recognizing it as a function which drives growth.