Business Development and Cybersecurity

business development and cyber technologies

Cybersecurity technology is a vital element of business development. Business leaders must use these systems with caution and proactively, as they could be targeted by cyberattacks. Business development includes identifying new opportunities, creating and maintaining relationships with customers, creating strategic alliances, and coming up with strategies to increase profits. It affects almost every department in a business, from marketing to HR.

To address the research question of how a company’s cybersecurity adoption influences its performance, we examined the impact of various technological, organizational and environmental factors on the company’s desire to adopt these technologies. We utilized the TOE framework to analyze the effect of these factors on the organization’s willingness and capability to adopt cybersecurity technology.

The TOE framework comprises four components: (1) perceived usefulness, (2) perceived ease of use, and (3) being observable. These three variables affected the companies’ plans to adopt cybersecurity technology and their performance. Additionally, competitive pressure and vendor support have also had a positive effect on the companies’ willingness adopt these technologies.

Cyberattacks are more frequent than ever before and can cause serious damage to a company’s reputation, financial standing, and operational capabilities. Fortunately, the most recent cybersecurity technologies can help companies steer clear of these scratches and boost their financial performance. It’s time for a change in attitude, from viewing cybersecurity as a costly security expense to accepting it as a crucial business function driving growth.

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