rss_2.0Proceedings of the International Conference on Business Excellence FeedSciendo RSS Feed for Proceedings of the International Conference on Business Excellencehttps://sciendo.com/journal/PICBEhttps://www.sciendo.comProceedings of the International Conference on Business Excellence 's Coverhttps://sciendo-parsed-data-feed.s3.eu-central-1.amazonaws.com/6008c3663044994c40c9d6c1/cover-image.jpg?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Date=20210925T133242Z&X-Amz-SignedHeaders=host&X-Amz-Expires=604800&X-Amz-Credential=AKIA6AP2G7AKDOZOEZ7H%2F20210925%2Feu-central-1%2Fs3%2Faws4_request&X-Amz-Signature=9f2c4e609e012d158aee3571593cd018c719ef0bb68567ba14e78ba8cc75e7fc200300Methods and Devices to Improve the Complex Human Being Functioninghttps://sciendo.com/article/10.2478/picbe-2020-0065<abstract> <title style='display:none'>Abstract</title> <p>The research presents in the first part of the article an original experiment recorded with a Thermo-Vision camera. It reveals the possibility of the human being to direct energy inside the own body but also to the exterior, to heal other persons. The subject, the first author of this article, sent continuously energy to his palms about five minutes. During this time the temperature of his hands grew with more than two degrees Celsius. The subject did not move at all. The energy can be thus directed then further to other persons in need, to help them recover their health. The second part of the article reveals how our inventions rewarded with a lot of gold medals and not only, the Bio-Chips Doctor Tech, can be used to improve the human general state. A very significant experiment is presented, where with the help of these devices the first author of the paper reached for example a general balance of 99.98%. The third set of measurements presented in the article was made by means of three original types of Keshe devices. The first author of the article changed the energy at the level of the own third eye by means of the devices and could significantly improve his own state. These results are also presented in the last part of this article. For the second and the third sets of measurements, the general state of the person was evaluated by means of a Bio Well device. All the three previous types of the measurements are very original and suggestive for how we can help the others. The general purpose of the article is to show that we can do more in different ways for the others, about their health, their level of energy and their level of performance.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00The value of knowledge management in cultural entrepreneurshiphttps://sciendo.com/article/10.2478/picbe-2020-0060<abstract> <title style='display:none'>Abstract</title> <p>Although the concept seems to be self-explanatory and increasingly more people with various artistic talents or a special interest in arts &amp; culture endeavor themselves in various business-like activities, while culture is praised increasingly more as a key towards sustainable development of the contemporary society, cultural entrepreneurship is not a familiar presence in the academic inquiries. The main associations considered when talking about cultural entrepreneurship are the ones with talent, creativity, cultural innovation. Another aspect analyzed by the literature is the relationship to financial education and skills. The relevance of all these elements is obvious. Maybe less straightforward is the need for knowledge management in the field of cultural entrepreneurship since talent and culture are in many contexts considered apart from knowledge. Nevertheless, knowledge management should be a sine-qua-non component of the business strategy of a cultural entrepreneur considering the competitive advantages it could generate. To unveil the known relationships between knowledge management and cultural entrepreneurship, the present research develops a narrative literature review. The results point out the limited understanding of cultural entrepreneurship, including the role knowledge management might play in cultural enterprises.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00ICT Security Measures for the Companies within European Union Member States – Perspectives in COVID-19 Contexthttps://sciendo.com/article/10.2478/picbe-2020-0035<abstract> <title style='display:none'>Abstract</title> <p>The development of ICT usage in households, by individuals or in enterprises is submitted to the requirements of security. This paper aims a statistical analysis of ICT security aspects from several perspectives: ICT policies, staff awareness of ICT security related issues, ICT security related activities. The methodology used for testing the hypotheses is based on descriptive statistics, chart case study, correlation and factor analysis. The results emphasize the importance of investing resources in cyber security, moreover, in the current pandemic situation generated by COVID-19.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00Posibility to fast react in order to identify the risk and make first claim assesment in case of a severe earthquake in Bucharesthttps://sciendo.com/article/10.2478/picbe-2020-0034<abstract> <title style='display:none'>Abstract</title> <p>Insurer’s reaction in case of a severe event, in Romania, especially in Bucharest is well known that is more than difficult, mainly due to the existing resources that need to be appointed in a short time to a high number of reported cases. The lack of a clear plan to react, at the national level, by all authorities is showing that Romania is not prepared properly to react in case of an earthquake similar with the one in 1977. Romanian authorities in the insurance industry strive to find a fast and smooth process, to inspect the claims in due time, but the reality shows that this plan is not linked to reality, and, as it is currently described as project by PAID will definitively fail to it purpose. Current legislative framework and procedures shows that the process of handling a claim in case of a big volume of files will be more than difficult even could lead to a blockage in the system. The authors’ research follows the importance that claim inspection, identification of risk and claim file opening should have a total different process even a disruptive one via an online solution or special app. The research is starting from a plan of PAID which is mentioning that all resources available in the insurance companies to be combined and managed through a special command force under PAID supervision. The main finding of the research is that the Romanian insurance market need a totally different approach in order to assess the claims and in the same time the fact that currently discussed project, initiated by PAID cannot be applied in the existing environment due to many conflicts even with the EU legislation. A new modern solution to provide to the clients best services in the promised time is required to exist and to be applied in the moment of the event.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00Key factors affecting disposal of radioactive waste in the sustainable development approachhttps://sciendo.com/article/10.2478/picbe-2020-0002<abstract> <title style='display:none'>Abstract</title> <p>The radioactive waste disposal is a well investigated issue worldwide because of its importance for a safe and sustainable use of nuclear energy. Such waste is subject to final storage in deep geological disposals. Many factors have a direct contribution to the success of such innovative facility. The objective of the study is to identify the principal factors which contribute to the radioactive waste location. Factors that influence public acceptance are recognized and emphasized in the paper. The methodology is based on a questionnaire for empirical data obtaining and interviews with a selected group of experts to explore the insights of a disputed topic. The study reveals the quantitative analysis of the key factors as well-established contributors for understanding how and where to construct a radioactive waste facility. General information about the respondents was considered, as well as the possibility and the level of cooperation with stakeholders, the degree of information and the motivation of the given benefits as important influential factors over location and construction of a radioactive waste disposal. Overall, the study has shown that various factors influence the general public attitude, and this aspect leads to a direct influence on the location and construction of such a facility. The novelty of the research consists in key factors investigation that specially influence the location and the construction of a radioactive waste disposal, especially because the available literature studies in this area are not so strong developed yet.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00Motivations for Coopetition Strategies between Banks and Fintechshttps://sciendo.com/article/10.2478/picbe-2020-0027<abstract> <title style='display:none'>Abstract</title> <p>The aim of this study is to identify the main motivations for the formation of strategic coopetitive partnerships between Banks and Fintechs. In this sense, an exploratory qualitative analysis was performed using semi-structured interviews. Following the triangulation between literature review, primary sources (interviews) and secondary sources (news and relevant documentation), the analysis of the results was performed using the Systematic Combination approach. The results led to the conclusion that the “clients” factor, materialized in the will to respond to their new demands, through value creation, is the main motivation for both institutions to establish strategic alliances. This study filled the literature gaps regarding the identification of the main motivations to form coopetitive strategic alliances between Banks and Fintechs: banks need the Fintechs’ technological know-how, their flexibility in the processes and the fact that Fintech operate in specific niches; Fintechs need banks’ market knowledge and their scale. Together they can answer in a better way new customer demand. This investigation is limited by the lack of tangible identification of existing Fintechs; and also because of qualitative analysis lack of quantitative confirmation.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00Blockchain – the accounting perspectivehttps://sciendo.com/article/10.2478/picbe-2020-0020<abstract> <title style='display:none'>Abstract</title> <p>Blockchain remains still an experimental technology, with current applications addressing only some elements of small-scale projects. Once the technology matures however, it has the potential to transform industries and even the economy, as it begins to integrate complementary technologies such as AI and IoT. It has the potential to bring fundamental changes to financial accounting and auditing, and even to entire financial markets. This paper explores the potential for blockchain applications in accounting, identifying major benefits and shortcomings, and analysing opportunities and possible threats. We investigate mainly the organizational challenges raised by an accounting blockchain systems and its potential to enhance the accounting activity. We discuss blockchain’s potentially disruptive effect on the accounting profession, and conversely, the potential role of this professions in further developing blockchain technology.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00Neuromanagement: the scientific approach to contemporary managementhttps://sciendo.com/article/10.2478/picbe-2020-0099<abstract> <title style='display:none'>Abstract</title> <p>The last years have been marked by the attempts to approach the management discipline from a new, innovative perspective, in accordance with the present times, marked by complex challenges and highly increased competition. Given the importance and impact of scientific advances and also the explosion of research in the field of neuroscience, management had to be redefined and its critical variables had to be analyzed from a different perspective. An interdisciplinary vision was needed to enable future researches and explanations of the decision-making processes, leadership practices, change management, innovation, creativity, human resources performance, engagement of people and emotions. Literature review has been made, from the classical management theories and models, the historical concepts of man, to the new, full of perspectives spectrum of neuroscience, brain functioning and, its infinite potential, that opened new horizons, uncovered resources and tools to face the realities of the new business world. The main purpose of this article is to overview the transition from management to neuromanagement, from leadership to neuroleadership, the role and impact of these concepts on the holistic approach of management science. This evolution allows not only the confirmation of a set of assumptions but also access to a wide range of knowledge, with multiple possibilities of applications in organizational management and opens avenues for future researches.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00Organizational performance – theoretical and practical approaches; study on students’ perceptionshttps://sciendo.com/article/10.2478/picbe-2020-0038<abstract> <title style='display:none'>Abstract</title> <p>Organizational performance depends on leaders’ mastery to create a cooperative working climate and on their ability to lead a team. Effective results require emotional engagement and empathy from participants in terms of activities performed within a team in order to provide solutions to issues that need to be resolved as professionally as possible. Organizational performance refers to the degree to which the organization, with some informational, financial, and human resources, positions itself effectively on the business market. Individual performance can influence the performance of the entire organization in the short, medium or long term in a positive or negative direction. The main objectives of the study are: 1)defining the firm’s performance; 2) presenting leadership characteristics as a managerial and organizational process; 3) analysing the leadership importance on organization performance; 4)presenting the research results regarding students’ perceptions on the recognition of organizational performance. The research approach used is a combination of literature review and answers to a questionnaire. Respondents are third year students in the bachelor programme at a Business School from Romania. The research scope is to identify young people’s perceptions regarding the recognition of organizational performance. The success factors that contribute to finding the first job after they graduate are also listed. According to respondents’ answers, the main characteristics of successful students will be specified, as well as their main priorities and values in life.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00Knowledge risk management in aviationhttps://sciendo.com/article/10.2478/picbe-2020-0062<abstract> <title style='display:none'>Abstract</title> <p>Aviation is one of the most important domains nowadays from the perspective of the economy and security of a nation. When we talk about aviation, we can say that it is divided into two categories, civil aviation and military aviation. Though they share the same base characteristics, an aircraft departing from an airport and safely landing on another airport, they are parted by a lot of aspects. One of the common things that they share is the risk involved every time an aircraft is prepared for departing and the actual flight, until the safe landing at the designated airport. The two involve different risks that I will approach during the current article. When we narrow the discussion to risk, we can tell for sure that the risk involved in the Romanian Air Force is higher due to the specifics of the mission. The importance of knowledge in aviation is an aspect that involves all of our attention because we have to take into consideration both tacit and explicit knowledge. Knowledge risk management represents a gap in the aviation domain. Except for the explicit knowledge that is necessary to be assimilated in order to be able to play a part in aviation, tacit knowledge is an important part of this activity domain.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00Practical Aspects Regarding the Dissolution of a Company by Declaring the Company Null and Voidhttps://sciendo.com/article/10.2478/picbe-2020-0114<abstract> <title style='display:none'>Abstract</title> <p>Law no. 31/1990 on companies, in its initial form, developed a more traditional approach of the consequences of the non-compliance with the legal requirements for the establishment of a company. Though, in the mentioned version, the interest of protecting third parties prevailed, with the exclusion of the drastic sanction of nullity. However, the legislator, in time, reached the conclusion that a more modern approached needed to be taken into consideration, which should reach a balance between the need to protect the interests of third parties and the imperative to comply with the law with reference to the conditions that must be met to establish a company. Even so, in this current form of the regulation, a concern still remains, respectively that of trying to save the company, to bring it to fulfill the conditions of legality and, through this, to protect third parties also. But in some cases it is necessary for the company to cease to exist by declaring its nullity. Therefore, the current study aims in presenting and analyzing, from a more practical point of view, the occurrence of the nullity of a company and the consequences of such a measure both for the company itself and also for its partners.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00Indefinite vs. fixed-term work contracts: the impact over the teachers’ work-engagementhttps://sciendo.com/article/10.2478/picbe-2020-0085<abstract> <title style='display:none'>Abstract</title> <p>A teacher’s work during the school year should be seen as a marathon or as a sprint? This paper intends to contribute to the expanding body of literature on the work-engagement issues of education employees from a perspective of strategic human resources management. It investigates how the length of their working contracts influences the level of engagement shown for their work. It was assumed that the existence of an indefinite or a fixed-term work contract brings up aspects such as stability, predictability and coherence for a teacher’s work, all thought to be parts of a positive engagement state of mind. Nevertheless, the acknowledgement and the acceptance of a short time collaboration could bring just as good results if the focus remains on the present moment. In order to gain a better understanding it was performed a quantitative research materialized in a questionnaire, answered by school teachers employed under both forms of contracts. The findings of this study are of value for any of the educational field stakeholders as the system’s human resources are the most valuable asset for a qualitative result. In the end, implications of a predominant engaged or disengaged stuff will be discussed and human resources management suggestions will be made.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00The policies of the Organization for Economic Cooperation and Development (OECD) in financing pre-university educationhttps://sciendo.com/article/10.2478/picbe-2020-0039<abstract> <title style='display:none'>Abstract</title> <p>In this article, we want to present the comparative report, as well as the results of the Organization for Economic Co-operation and Development policy review to improve the efficiency of the use of educational resources (Review Resources Resources). The Organization for Economic Cooperation and Development report provides analysis and options to assist governments in achieving the goals of education policies, as well as the fair use of financial resources in this area. This report focuses on the more topics of interest, such us: how responsibilities for raising and spending school funds in increasingly complex education systems can be effectively organized, the way in which mechanisms for distributing funding to schools can be designed effectively to support the learning of young people and how planning procedures can support the preparation of education budgets to ensure their long-term sustainability and align them with the priorities of government education policies. At the same time we set out to present the governance of school funding and describes increasing the involvement of different bodies in the management and allocation of school funds in different States as well as how they are organized and interact with each other. The article also contains some examples of sources of education funding in Organization for Economic Co-operation and Development Member States such as Austria, Finland, Germany, Greece, The United Kingdom and the United States of America.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00Determinants of entrepreneurial intentions: the case of Southern Romaniahttps://sciendo.com/article/10.2478/picbe-2020-0012<abstract> <title style='display:none'>Abstract</title> <p>The study of entrepreneurial intentions has become a topic of interest in the last decades. As most of the decisions to launch a new firm are assumed to be planned for some time, it means that they are preceded by an intention to do so. Thus, identifying and analyzing the factors that influence the entrepreneurial intention represents a key issue in the entrepreneurship research. A review of the scientific literature shows that the determinants of entrepreneurial intentions are to be found in both the psychological approach and the behavioral approach. The psychological approach stresses the importance of various factors such as the locus of control, the propensity to take risk, the self-confidence, the need for achievement, or the innovativeness. On its turn, the behavioral approach puts accent on other elements such as the subjective norms or the personal attitude. The purpose of the paper is to identify and analyze the determinants of entrepreneurial intentions in the case of the Romanian entrepreneurs located in the Southern part of the country. In this respect, it takes into account several factors such as gender, experience or propensity towards risk. The methodological approach was based on a quantitative research method. The method of data collection was a survey by self-administered questionnaire. The paper illustrates the existence of various correlations between the above factors and the entrepreneurial intentions. It contributes to the enrichment of the scientific literature by emphasizing the role played by some of the main determinants of entrepreneurial intentions in the developing of entrepreneurship in Southern Romania.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00Digital marketing on destination sustainability Study case: Romanian Ecotourismhttps://sciendo.com/article/10.2478/picbe-2020-0082<abstract> <title style='display:none'>Abstract</title> <p>Marketing and publicity have played a very significant role in promoting touristic destinations. Over the years, destinations promoted in papers, magazines and even movies, have become more and more crowded. This phenomenon even happened to the extent that it threatens the local environment and the wellbeing of locals. By studying recent news regarding popular tourist destinations, the article will observe the shift in the mindset of both tourists and policy makers. Therefore, should campaigns be held to raise awareness regarding different threats a destination faces, a shift of mindset will occur. This can be observed from the point of view of policy makers, locals and even tourists. The aim of this article is to study and compare both, publicity done for sustainability and publicity done for the sake of popularizing a touristic destination. Through this comparison the article wants to see if there are any changes in the behavior of tourists when reaching specifically advertised destinations but also if certain types of publicity have determined policy makers to take a stand for sustainability.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00The role of European funds in developing and sustaining rural entrepreneurship in Romaniahttps://sciendo.com/article/10.2478/picbe-2020-0014<abstract> <title style='display:none'>Abstract</title> <p>With the integration into the European Union (EU) in 2007, growth opportunities have arisen for Romania. In terms of rural area and agriculture, National Rural Development Programs (NRDPs) are implemented, through which funds are granted from the European Union and the Government of Romania, for the economic and social development of the rural area. In this context, entrepreneurial initiatives for rural development have been encouraged, and many SMEs were given the opportunity to be eligible for European funding. The NRDP 2014-2020 continues the efforts for rural development, through strategic objectives, allowing entrepreneurs to implement their business ideas and sustain the development of the rural communities. The paper aims to analyze how the European funding influences the development of rural entrepreneurship in Romania. The study will comprise an analysis of the existing results of the NRDP 2014-2020, referring to annual evaluation indicators of the project implementation (number of jobs created in supported projects, percentage of rural population targeted by local development strategies, etc.). The methodology focuses on interpretation of the latest statistical data from trusted sources, as well as analysis of the official documents and reports (e.g. NRDP 2014-2020 annual report). This paper will contribute with accurate results and discussions concerning the role of EU funds for the rural communities. Also, the study will describe some of the challenges that Romanian rural entrepreneurship still faces after implementation of European funding programs and unresolved issues.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00Erasmus+ programs-the need to create a competitive space of the Romanian education systemhttps://sciendo.com/article/10.2478/picbe-2020-0101<abstract> <title style='display:none'>Abstract</title> <p>The need to create a competitive framework of the Romanian education system and the current needs of the labor market have aroused the interest of the human resource in the pre-university education, which manifests its interest towards the European funds that can be attracted in the field of education and which are necessary for the creation of a context that raises the education system to the standards of the European Union, a fact also demonstrated by the legislation in force. By the Government Decision no. 76 / 27.01.2005 and the Government Decision no. 67/2007 has been designated the National Agency for Community Programs in the Field of Education and Vocational Training (“Agency”, AN), as an agency for implementing the community programs “Lifelong Learning” (LLP), “Youth in action” (YiA) and Erasmus Mundus from 2007-2013. This document included the Europass National Center, the Eurydice National Unit and the Eurodesk National Office in the AN. In 2013, through the Government Memorandum no. 10988/ 09.12.2013, AN was designated as the Implementing Agency for the Erasmus + program, from 2014-2020, having as a mission the administration of the European Union program that supports the national project for the better change of communities, attitudes and mentalities of individuals. Erasmus + is the EU program in the fields of education, training, youth and sport for the period 2014-2020. Education, training, youth and sport make a significant contribution to combating socio-economic change, to Europe’s greatest challenges by the end of the decade, and to the implementation of the European policies for growth, jobs, equity and social inclusion. Combating the rising unemployment rate - especially among young people, has become one of the most urgent tasks of European governments. Too many young people leave school prematurely, thus risking becoming unemployed and socially marginalized. The same risk threatens many low-skilled adults. The technologies change the way the company operates, so their full use is necessary. European companies need to become more competitive through talent and innovation. Europe needs more cohesive and inclusive societies that enable citizens to play an active role in democratic life. Education and youth activities are essential elements for preventing radicalization through violence and by promoting common European values, social inclusion, enhancing interculturality and a sense of belonging to a community. Erasmus + is an important tool for promoting the integration of people from disadvantaged backgrounds, of newly arrived migrants, responding to critical events affecting European countries. The Erasmus + program aims to help the countries participating in the program to effectively use Europe’s talent and social capital, in a lifelong learning perspective, by linking the support provided to formal, non-formal and informal learning in the fields of education, training and youth.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00Considerations on the void or voidable agreement under Romanian lawhttps://sciendo.com/article/10.2478/picbe-2020-0112<abstract> <title style='display:none'>Abstract</title> <p>The concept of nullity under New Civil Code enacted on 1st of October 2011 has been amended. Thus, the New Civil Code brings more clarity and amends partially some of the former concepts of nullity and its legal regime. In this respect, new legal provisions have been enacted for the purpose of clarifying the nature and the effects, respectively the option to confirm/remedy or, to restore the null and/or voidable legal acts. The notary public becomes a new competence through which the nullity can be confirmed upon parties’ request. Such new procedure saves a lot of resources for the parties with no/low appetite to initiate and to be part of the court action. This paper aims to critically to analyze the novelties and to identify the upsides and the downsides which may incur in practice when implementing such new concepts.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00Discussing the potential of using submersive water pumps powered by photovoltaic panels in agriculture and the alternative use for the supply of households in Romaniahttps://sciendo.com/article/10.2478/picbe-2020-0008<abstract> <title style='display:none'>Abstract</title> <p>According to the current leadership of the EU Parliament, the use of renewable energy should not only represent a condition for emission reduction as an ecological demand, but also an opportunity to modernize the European economy and insure the sustainable development of the member countries. In this context, the aim of the current paper is to analyze the potential of using photovoltaic panels to power the water pumps utilized in both agriculture and supply of households in Romania and what the resulting impact would be from the ecological standpoint, as well as the economic and social one. The impact assessment follows the guideline proposed by the European House Ambrosetti latest publication regarding the socioeconomic impacts of the energy transition in Europe, but proposes a granular approach rather than a global one. The literature review of the existing publications presents an overview of the conclusions reached so far regarding water pumps powered by photovoltaic energy used for different purposes, such as the environmental and economic benefits of heat pump water heaters which are powered by photovoltaic energy or the performance comparison between photovoltaic heating systems and traditional ones. The current paper has the purpose of answering whether the utilization of photovoltaic powered water pumps in agriculture in Romania could bring economic and ecological benefits which would outweigh the costs and also, if this is the case, if there are also social benefits to be considered which would result in the use of this technology for households as well. The conclusions reach through this paper show the benefits of using the above mentioned technology for industrial purposes and its alternative potential for households. The contribution is to both the research field of renewable energy and its uses and to the policymakers to encourage investment in this direction.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00Why should the gravity model be taught in business education?https://sciendo.com/article/10.2478/picbe-2020-0040<abstract> <title style='display:none'>Abstract</title> <p>The aim of this paper is to critically analyze the papers from the literature mainstream regarding the gravity model and to identify the main findings. The paper highlights the importance of studying the gravity model in the tertiary business education. Introduced by Tinbergen (1962), the gravity model was widely used to analyze the international trade flows in theoretical, as well as empirical studies. Alongside the classical determinants, economy size, market size and geographical distance, other variables which influence the trade flows were found: trade agreements, foreign direct investments, exchange rate, trade taxes, cultural distance, migration, remoteness, knowledge capital, technological development. There are many controversies regarding the zeroes problem within the model, as well as many controversies on the solutions of the zeroes problem. A meta-analysis and systematic review of the relevant literature in the last 56 years was conducted. From author’s knowledge, this study is the most extended literature review on the gravity model, covering more than 50 years of research. Despite all the theoretical controversies, the gravity model proved to be a robust one, with a great power of explanation in more than 80% of the dynamics and structure of the trade flows. Therefore, the gravity model should be considered a valuable analysis tool in teaching and studying in tertiary business education: international trade, econometrics, statistics, trade policy and so on.</p> </abstract>ARTICLE2020-07-27T00:00:00.000+00:00en-us-1