Cybersecurity is a crucial component of business development. However, business leaders must implement these systems strategically and with caution, because they could be targeted by cyberattacks. Business development encompasses searching for new opportunities, developing and maintaining relationships with customers, entering strategic partnerships, and developing 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 affect its performance?” we examined the impact of different technological environmental, organizational and other factors on an organization’s decision to adopt these technologies. We specifically used the TOE framework (Turner, Odeberg, and Egan 2002; TOE) to investigate the influence of these factors on the organizations’ willingness to adopt cybersecurity technologies.

The TOE framework comprises four components: (1) perceived usefulness, (2) perceived ease of use, and (3) being observable. We found that these three variables influence the decision-making of organizations to adopt cybersecurity technologies and also their performance. In addition, competitive pressure and vendor support had a positive effect on the companies’ willingness to adopt these technologies.

Cyberattacks are more frequent and may cause serious damage to businesses’ reputation financial, operational, and financial capabilities. Fortunately, the most URL up-to-date cybersecurity technologies can help companies avoid the abrasions and improve their financial performance. It’s time for a change in thinking, shifting from a view of cybersecurity as a cost-effective defensive expense to accepting it as a key business function that drives growth.