Cybersecurity technologies are a vital component of business development. However business leaders should implement main digify competitors these systems proactively and with caution, because they may be targeted by cyberattacks. Business development involves identifying new opportunities, establishing and maintaining relationships with customers, forming strategic partnerships, and creating strategies to increase profits. It impacts virtually every department within a business from human resources to marketing.

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 social elements on an organization’s intent to adopt these technologies. We employed the TOE framework to analyze the effect of these factors on the organization’s willingness and capability to adopt cybersecurity technology.

The TOE framework includes four components: (1) perceived usefulness, (2) perceived ease of use and (3) being observable. We found that these three variables affected the companies’ plans to adopt cybersecurity technology and their performance. Additionally, competition pressure and vendor support have a positive impact on the willingness of companies to adopt these technologies.

Cyberattacks have become more frequent and can cause grave damage to a company’s reputation as well as its financial and operational capabilities. The most advanced cybersecurity tools are able to help businesses avoid being harmed and boost financial performance. It’s the time to change our perspective from a view of cybersecurity as an expensive defensive expense to recognizing it as a business necessity which drives growth.