Business Development and Cybersecurity

09 Jul Business Development and Cybersecurity

Cybersecurity is an essential aspect of any business. Business leaders must implement these systems cautiously and with a sense of urgency, since they could be targeted by cyberattacks. Business development encompasses searching for new opportunities, establishing and maintaining relationships with customers, forming strategic alliances, and preparing strategies to boost profits. It affects virtually every department in a company from human resources to marketing.

In order to answer the research question, “How does a company’s adoption of cybersecurity technologies affect its performance?” we examined the impact of various technological environmental, organizational and other factors on an organization’s decision of implementing these technologies. We employed the TOE framework to study the impact of these factors on organizations’ willingness and capability to adopt cybersecurity technology.

The TOE framework Dynamic Data Defense is comprised of four parts: (1) perceived utility, (2) perceived ease-of-use, and (3) visibility. These three factors influenced companies’ intentions to adopt cybersecurity technology and also their performance. In addition, competitive pressure and vendor support also contributed to the companies’ willingness to adopt these technologies.

Cyberattacks are more frequent than ever and can cause significant damage to a company’s reputation, financial standing, and operational capabilities. Fortunately, the latest cybersecurity technologies can help businesses steer clear of these scratches and boost their financial performance. It’s time to make a shift in attitude, from viewing cybersecurity as a costly defense expense to embracing it as a vital business process that can drive growth.