Finance and Business Planning

Precise, commercial, and financial decisions are essential for continuous article publishing in a  scientific journal. Moreover, it is of utmost importance to consider financial matters. Moreover, the editor in chief should be clear-sighted about the financial resources which can be attracted (e. g. publishing office or virtual subscribers, advertisements, and gaining sponsorship from associations or institutions).

Finance and Business PlanningIn addition, the editor in chief or the editorial board should constantly inspect the costs and check whether they can afford the expenses to avoid serious financial problems. Preparing financial resources is always a big deal for a scientific journal in the process of publication. However, the editor in chief should determine that this risk will be doomed into failure or will scale the heights.

The scientific journals should employ a continued financial assessment to state how they can improve the present situation or improve their performance quality, such as publishing more regularly or hiring more people working for the scientific journal. Most of the scientific journals are started by two or three ambitious and interested people; however, it is not a warranty that a scientific journal can be continued.

The founders of a journal should do their best to develop a strong management structure that includes editors and journal office workers. Finance and education are two important keys to this end, and the journal will be nothing without them or it will be regarded as low-quality journal over time.

To run a successful scientific journal, strategic management (i.e., the analysis of strengths, weaknesses, opportunities, and threats) should be done periodically. It helps the founders find ways to improve the quality of the journal either by creating new opportunities (i.e., hiring professional editors) or responding to challenges, such as increasing the number of manuscripts submitted to a scientific journal.

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