general tech trends influencing M&A activities
Cybersecurity technologies are a vital element of business development. However, business leaders must implement these systems with a sense of urgency and cautiously, as they are susceptible to being targeted by cyberattacks. Business development involves identifying and implementing opportunities to grow, establishing and maintaining relationships with customers, forming strategic partnerships, and developing strategies to boost profits. It impacts nearly every department in a business from HR to marketing.
To answer the question of how a company’s cyber security adoption affects its performance, we studied the impact of a variety of organizational, technological, and environmental factors on the company’s desire to adopt these technologies. We specifically used the TOE framework (Turner, Odeberg, and Egan 2002; TOE) to investigate the effect of these variables on the organizations’ willingness to adopt cybersecurity-related technologies.
The TOE framework consists of four parts: (1) perceived utility, (2) perceived ease-of-use and (3) observational. These three variables affected the companies’ intentions to adopt cybersecurity technology and their performance. In addition, competition pressure and vendor support also had an impact on the willingness of companies to adopt these technologies.
Cyberattacks are more frequent than ever before and can cause severe damage to the company’s reputation, financial standing, and operational capabilities. The latest cybersecurity technology is capable of helping companies avoid scratches and enhance the financial performance of their business. It’s time for us to change our thinking about cybersecurity from viewing it as a high-cost defensive cost to recognizing it as a business necessity which drives growth.