due diligence accuracy enhanced by machine learning
Cybersecurity is a crucial element of business development. Business leaders should apply these systems with care and in a proactive manner, as they could be targeted by cyberattacks. Business development includes looking for new opportunities, creating and maintaining connections with customers, entering strategic alliances, and preparing strategies to boost profits. It impacts virtually every department in a company from marketing to human resources.
To answer the research question, “How does a company’s adoption of cybersecurity technologies influence its performance?” we examined the impact of various technological environmental, organizational and other factors on an organization’s decision to adopt these technologies. In particular, we utilized the TOE framework (Turner, Odeberg, and Egan 2002; TOE) to investigate the impact of these factors on organizations’ desire to adopt cybersecurity-related technologies.
The TOE framework is comprised of four elements: (1) perceived usefulness, (2) perceived ease of use, and (3) being observable. We found that these three variables influenced the organizations’ intentions to adopt cybersecurity tools and their performance. Additionally, competition pressure and vendor support contributed to the companies’ willingness to adopt these technologies.
Cyberattacks are more frequent than ever, and can be devastating to the reputation of a company, its financial standing, and operational capabilities. The most advanced cybersecurity tools are able to help businesses avoid these scratches and enhance financial performance. It’s time to change in perspective, moving from viewing cybersecurity as a costly security expense to accepting it as a crucial business function that is driving growth.