Business Development and Cybersecurity

Cybersecurity is an essential component of any business. Business leaders should implement these systems cautiously and with a sense of urgency, since they could be targeted by cyberattacks. Business development involves identifying and implementing new opportunities, establishing and maintaining relationships with customers, creating strategic partnerships, and creating strategies to increase profits. It affects nearly every department in a business, from marketing to HR.

In order to answer the research question, “How does a company’s adopting cybersecurity technologies affect its performance?” we examined the data room services in business performance benchmarking effects of various technological environmental, organizational and other elements on an organization’s intent of implementing these technologies. We specifically used the TOE framework (Turner, Odeberg, and Egan 2002; TOE) to investigate the influence of these factors on organizations’ decision to adopt cybersecurity-related technologies.

The TOE framework comprises four components: (1) perceived usefulness, (2) perceived ease of use and (3) the ability to observe. These three factors influenced companies’ plans to adopt cybersecurity technologies and their performance. Additionally, competitive pressure and assistance from vendors also had an impact on the companies’ willingness adopt these technologies.

Cyberattacks are more frequent than ever before and can cause severe damage to a company’s reputation, financial standing, and operational capabilities. Fortunately, the newest 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 defensive expense to embracing it as a vital business process that can drive growth.