Cybersecurity is a crucial component of business development. Business leaders should implement these systems with caution and proactively, as they could be targeted by cyberattacks. Business development encompasses searching for new opportunities, establishing and maintaining connections with customers, entering strategic partnerships, and developing strategies to boost 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 affects its performance we examined the impact on various organizational, technological, and environmental factors on an company’s desire to adopt these technologies. In particular, we utilized the TOE framework (Turner, Odeberg, and Egan 2002; TOE) to investigate the effect of these variables on the organizations’ willingness to adopt cybersecurity technologies.
The TOE framework has four components: (1) perceived usefulness, (2) perceived ease of use, and (3) observability. These three factors influenced organizations’ intention to adopt cybersecurity tools as well as their performance. Additionally, competitive pressure and vendor assistance were also a factor on the willingness of companies to adopt these technologies.
Cyberattacks are more frequent than ever before and can cause serious damage to the iDeals data room reputation of a business, its financial standing, and operational capabilities. Fortunately, the newest cybersecurity technologies can help companies avoid the abrasions and boost their financial performance. It’s the time to make a change in mindset, from seeing cybersecurity as a costly defensive expense to accepting it as an essential business function that drives growth.
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