Business Development and Cybersecurity

Cybersecurity is an essential aspect of any business. However the business owners must implement these systems strategically and with caution, since they are susceptible to being targeted by cyberattacks. Business development involves identifying new opportunities, developing and maintaining relationships with customers, forming strategic alliances, and coming up with strategies to boost profits. It impacts almost every department of a company from human resources to marketing.

In order to answer the research question, „How does a company’s adopting cybersecurity technologies affect its performance?“ we examined the impact of different technological environmental, organizational and social elements on an organization’s intent of adopting these technologies. Particularly, we employed the TOE framework (Turner, Odeberg, and Egan 2002; TOE) to investigate the impact of these factors on organizations‘ decision to adopt cybersecurity-related technologies.

The TOE framework has four components: (1) perceived usefulness, (2) perceived ease of use, and (3) being observable. These three variables influenced organizations‘ intention to adopt cybersecurity techniques and their performance. In addition, competitive pressure and vendor support also contributed to the willingness of companies to adopt these technologies.

Cyberattacks have become more frequent and can cause serious damage to a business’s reputation as link well as its finances and operational capabilities. Fortunately, the newest cybersecurity tools 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 crucial business process that can drive growth.