Gregory P. Prastacos is the Dean of the School of Business at Stevens Institute of Technology, where he also serves as Professor of Management Science. Before joining Stevens he was Professor of Management Science and Rector of the Athens University of Economics and Business (AUEB), Athens, Greece. He studied at Columbia University, where he received a bachelor's and master's in computer science and a doctorate in operations research. He was previously on the faculty of the University of Pennsylvania’s Wharton School, and has held visiting appointments at a number of Universities and Research Institutes in Europe and Asia.
Dean Prastacos' professional interests are in the areas of management science, information technology, and their use for innovation and business transformation in the information society. He has published five books and approximately 70 papers in international academic journals and edited volumes. His papers have appeared in some of the top journals in his field, such as Management Science, Operations Research, Journal of Management, Information and Management, Long Range Planning, and others. One of his recent books on “Managerial Decision Making” has been translated in Chinese and published by Tsinghua University Press (2011). Another recent book he co-edited on "Leadership through the Classics" has been published by Springer (2013).
For his work on the logistics of perishable inventory he has been awarded the Edelman Award by TIMS/INFORMS. For his work on financial management under uncertainty, he has been awarded the 1st prize of the Hellenic OR Society. His work on blood inventory management has been cited in the centennial issue of Science as exemplary OR work internationally. His work on competency modeling has been used worldwide as a basis for successful HR practice. His work on absorptive capacity has been selected among the best papers of the Academy of Management. In 2008, INFORMS honored him with an Honorary Medal for significant achievements in Operations Research. Throughout his career he has received numerous teaching excellence and exceptional contribution awards (2002, 2003, 2005, 2008, 2010).
Dr. Prastacos possesses significant academic leadership experience. As dean at Stevens (since February 2012) he has launched a number of initiatives that have transformed the school from a school of technology management to an accredited school of business. Since he joined Stevens, a new strategic plan for the school has been developed and is being implemented; five new undergraduate majors and three new graduate programs were launched; undergraduate applications increased by 100%, while graduate applications by 81%; aggressive hiring of faculty has taken place, with the number of research-active faculty almost doubling; a best-ever retention rate of 97% has been achieved; two graduate programs were ranked among the top 10 in the country; advisory boards were established; two newsletters were launched, significantly increasing the school’s outreach; research focus and excellence have consistently been emphasized; faculty support initiatives have been put in place; the SSRN research rankings of the school have dramatically improved, putting Stevens in the top 100 business schools for the first time; two agreements with international business schools have been signed; and more. In May 2015, the school was granted accreditation by AACSB, the first non-STEM related accreditation in Stevens’ 140 years of history. In July 2015, it was formally renamed to the School of Business.
As Rector of AUEB (2007-2011) he spearheaded the internationalization of the university, increased the number of graduate programs offered, enhanced the research activity through internal funding, established the alumni association of the University, established the Business Confucius Institute of Athens (fully funded by the government of China - Hanban), launched the International Entrepreneurship Chair (fully funded by the government of India - ICCR), established several joint programs with European Universities through the EU program Hermes, increased significantly the fundraising, and more.
Prior to becoming Rector at AUEB, he was the founding director (1999-2007) of AUEB’s International MBA Program (www.imba.aueb.gr), widely considered as the No. 1 MBA program in Greece. During his term, the program was accredited by AMBA (2005), gained international visibility, appeared in international rankings (2006), and grew to attract students from more than 25 countries. In 2010 the school was awarded “The Most Innovative Business School in Southern Europe, 2010”. Dr. Prastacos was also the founding director (2000-2011) of AUEB’s Management Science Laboratory (www.msl.aueb.gr), a leading ISO-certified management research center in Europe, that has attracted significant funding from the European Union and other national and private funding organizations.
Dr. Prastacos also has significant consulting experience. As an independent consultant, as well as an ex-Senior Partner and Chairman of Deloitte’s Management Consulting Practice in Greece (1997-2002), he has helped numerous organizations to develop strategies and systems and improve performance through organizational restructuring, IT systems and strategy, personnel development, balanced scorecard strategies, etc. The organizations he has worked with include major companies in banking, insurance, airline, airport management, postal services, health, mining, Internet service providers, and municipalities.
Dr. Prastacos serves on the Board of Directors of the Alexander S. Onassis Foundation (USA). He is an elected Fellow of the Washington Academy of Sciences, serves on the editorial board of several academic journals, and is on the board of his home school, Athens College. He has previously served as Founding Co-Chairman of the Business Confucius Institute of Athens, a joint initiative between Greece and China, and has been on the Board of Directors (BoD) of the Hellenic Management Association, the BoD of the Hellenic OR Society, the Scientific Council of the Greek National Economic Research Institute, as well as the BoD’s of a number of companies. He is a frequent speaker to conferences, and an advisor to government organizations and private industry.