Cybersecurity is a key component of any business. Business leaders should implement these systems cautiously and in a proactive manner, as they are susceptible to being targeted by cyberattacks. Business development includes identifying new opportunities, establishing and maintaining relationships with customers, forming 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 impact of various technological environmental, organizational and social factors on an organization’s decision of adopting these technologies. We used the TOE framework to assess the impact of these elements on the organizations’ willingness and ability to adopt cybersecurity techniques.

The TOE framework is composed of four parts: (1) perceived utility, (2) perceived ease-of-use, and (3) observational. These three variables affected the companies’ plans biotech evaluation: critical errors to avoid to adopt cybersecurity technologies and their performance. In addition, competitive pressure and vendor support have a positive impact on the companies’ willingness to adopt these technologies.

Cyberattacks are more frequent than ever before and can be devastating to the company’s reputation, financial standing and operational capabilities. Fortunately, the latest cybersecurity technologies can help businesses stay clear of these scratches and improve their financial performance. It’s the time to make a change in attitude, from viewing cybersecurity as a costly security expense to seeing it as a key business process that can drive growth.