Business Development and Cybersecurity

Cybersecurity is an essential aspect of any business. However business leaders should implement these systems proactively and digital storage solutions for business strategic market positioning with caution, as they are susceptible to being targeted by cyberattacks. Business development involves looking for new opportunities, creating and maintaining relationships with customers, entering strategic alliances, and preparing strategies to increase profits. It is a major concern for every department in a company from marketing to human resources.

To address the research question of how a company’s cybersecurity adoption affects its performance, we examined the impact of a variety of organizational, technological and environmental factors on the organization’s intention to adopt these technologies. Particularly, we employed the TOE framework (Turner, Odeberg, and Egan 2002; TOE) to investigate the influence of these factors on the organizations’ willingness to adopt cybersecurity-related technologies.

The TOE framework is comprised of four elements: (1) perceived usefulness, (2) perceived ease of use and (3) being observable. These three variables influenced companies’ intentions to adopt cybersecurity tools as well as their performance. In addition, competitive pressure and assistance from vendors have also had a positive effect on the companies’ willingness adopt these technologies.

Cyberattacks are more frequent than ever and can cause serious damage to the reputation of a company, its financial standing and operational capabilities. The latest cybersecurity technologies are able to help businesses avoid being harmed and boost their the financial performance of their business. It’s the time to make a change in attitude, from viewing cybersecurity as a cost-effective defensive expense to embracing it as a vital business function that drives growth.