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Cybersecurity is an essential component of any business. Business leaders should use these systems with caution and with a sense of urgency, since they are susceptible to being targeted by cyberattacks. Business development involves identifying new opportunities, establishing and maintaining relationships with customers, forming strategic partnerships, and creating strategies to increase profits. It affects virtually every department of a company from marketing to human resources.
To address the research question of how a company’s cyber security adoption affects its performance we looked at the impact on various organizational, technological, and environmental factors on the company’s decision to adopt these technologies. We used the TOE framework to study the effect of these factors on the organizations’ willingness and capability to adopt cybersecurity technology.
The TOE framework is composed of four elements: (1) perceived utility, (2) perceived ease-of-use and (3) observability. We discovered that these three factors have influenced the intentions of companies to adopt cybersecurity technology, as well as their performance. In addition, competitive pressure and vendor support have a positive impact on the companies’ willingness to adopt these technologies.
Cyberattacks are more frequent and can cause severe damage to a company’s reputation financial, operational, and financial capabilities. The latest cybersecurity technologies are able to help businesses avoid these scratches and improve the financial performance of their business. It’s time to change our perception of cybersecurity from seeing it as a cost-effective defensive expense to recognizing it as a crucial business process which drives growth.
