Business Development and Cyber Technologies

Business Development and Cyber Technologies

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The process of business development involves looking for new opportunities, building and maintaining relationships with customers, creating strategic partnerships, and devising strategies that boost profits. It impacts every department in a firm from human resources to marketing. The field is particularly challenging because it requires constant monitoring of cyberattacks, which can disrupt or even destroy systems, and compromise the information of businesses and organizations.

In the last 10 years the cyber-attacks have become management efficiency improved with automated systems more sophisticated as hackers are targeting more digital assets. The scale of attacks grew as bad actors aimed to earn money and monetize. In the end, cybersecurity has vaulted up the list of priorities for numerous companies. Implementing efficient security tools is vital to the success of any business due to the risk of losing customers as well as lawsuits and fines from regulatory authorities.

However, the cost of implementing cybersecurity technologies can be prohibitive for SMEs operating under tight financial constraints. This study is aimed at identifying the external and internal factors affecting SMEs using cybersecurity technologies. To find relevant articles, a systematic literature review was conducted using Google Scholar, databases such as EBSCO, ProQuest and EBSCO and databases such as EBSCO. Key terms like cybersecurity, data breaches, threat modeling, risk assessment, TOE framework, and organizational performance were used in the search for studies.

This study suggests that technological attributes and perceived value are the most important drivers of the adoption of cybersecurity technology in SMEs. Additionally, IT modularity, observability, and trialability are all positively associated with the adoption of cybersecurity technologies in SMEs.

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