Cybersecurity is a key component of any business. However business leaders should implement these systems proactively and cautiously, as they could be targeted by cyberattacks. Business development involves identifying new opportunities, establishing and maintaining connections with customers, entering strategic alliances, and preparing strategies to increase profits. It is a major concern for every aspect of a business from human resources to marketing.

To answer the research question, “How does a company’s adopting cybersecurity technologies affect its performance?” we examined the effects of various technological, organizational and environmental factors on an organization’s intentions to adopt these technologies. We utilized the TOE framework to study the effect of these factors on the willingness of organizations and their capacity to adopt cybersecurity technologies.

The TOE framework comprises four components: (1) perceived usefulness, (2) perceived ease of use and (3) being observable. These three variables influenced organizations’ intention to adopt cybersecurity technology as well as their performance. In addition, competitive pressure and vendor support also had a positive impact on the willingness of companies to adopt these technology.

Cyberattacks are more frequent than ever and can cause severe damage to the 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 to change our perspective from a view of cybersecurity as a cost-effective defensive expense to seeing it as a business necessity that can drive growth.

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