Gregory Prastacos

Dean of the School of Business

School: School of Business

Building: Babbio Center

Room: 436A

Phone: (201) 216-8366

Fax: (201) 216-8700

Email: gprastac@stevens.edu

Education
  • Eng.Sc.D. (1977) Columbia University (Operations Research)
  • MS (1973) Columbia University (Electrical Engineering / Computer Science)
  • BS (1972) Columbia University (Electrical Engineering / Computer Science)
Research

• Business Analytics
• Operations and Supply Chain Management
• Decision Support Systems
• Balanced Scorecard Strategies
• Technology & Innovation Management

General Information

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 graduated from the Athens College High School in Greece as the Valedictorian of his class (1969), and went on to study at Columbia University, where he received a bachelor's and master's in computer science and a doctorate in operations research. He has served 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.

Dr. 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 10 books and monographs 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. His book 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; six new undergraduate majors and three new graduate programs were launched; undergraduate applications have more than doubled, while graduate applications have tripled; a best-ever retention rate of 95% and a record placement record of 100% have been achieved. The number of research-active faculty has doubled, while publications in the FT50 journals have increased by 450%. Advisory boards were established and two newsletters were launched, significantly increasing the school’s outreach. Faculty support and student-centric initiatives have been put in place; 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 several joint programs with European Universities through the EU program Hermes, launched the Business Confucius Institute of Athens (fully funded by the government of China - Hanban), and the International Entrepreneurship Chair (fully funded by the government of India - ICCR), 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 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 is the Co-Chair of AACSB's Digital Transformation Affinity Group, and a member of the Board of NEBDA, the Northeast Business Deans Association. 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 BoD of the Onassis Foundation (USA), 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 universities and private industry.

Experience

2012-Current: Stevens Institute of Technology, School of Business, Dean and Professor of Management Science.

1981-2012: The Athens University of Economics and Business, Professor of Management Science (1981-2012), Rector of the University (2007-2011), Founding Director of the MBA International Program (1999-2007), Founding Director of the Management Science Research Laboratory (2000-2011), Founding Chairman of the Department of Management Science and Technology (1997-1999), Vice-Chairman of the University Research Center (1997-1999)

1978-1982: The Wharton School, University of Pennsylvania, Assistant Professor of Decision Sciences

1974-78: The Lindsley Kimball Research Institute of the New York Blood Center, Research Fellow (1977-78), Research Assistant (1974-76)

1977-1978: Columbia University, Graduate School of Business, Adjunct Assistant Professor

1986-1987: University of Paris IX-Dauphine, Laboratoire LAMSADE, France, Visiting Professor of Decision Sciences

1986-1987: Researcher A', National Center for Scientific Research (CNRS)

1983 – 2011: Short-term Visiting positions at various Universities in Switzerland, France, Spain, India, and China.

Consulting Service

Over 30 years of consulting experience in a variety of roles and industries. Initial experience as an independent consultant was commercialized in 1986 by launching and leading the OMAS SA management consulting company. The company grew to be a 30-people company, and became a market leader in Decision Support Systems, Business Intelligence Systems, Data Warehousing, and Customer Relationship Management. In 1996, after 10 years of continuous growth, the company merged with Deloitte & Touche, to create Deloitte & Touche Consulting. He remained as Chairman of the Board of Deloitte & Touche Consulting until 2002. His experience focuses on the Banking, Telecoms and IT sectors. Indicative projects he has led include the following:

Development of a decision support Systems for assets and iiabilities management of a major bank.

Development of a decision support systems for optimal pension career and manpower planning.

Developing a bonus system for a banking organization.

Analysis of the economic impact of an international airport.

Design of a reverse supply chain for used lubricants.

Analysis of the governance and related issues of a major city's Transportation Authority.

Development of IT strategy for a major mobile telephony provider.

Business plan for the financial portal of a major Internet provider.

Development of a balanced scorecard strategy for an international university.

Operational efficiency observatory for European universities.

Development of management training and research in Lithuania.

Profile identification of bank branches and development of a targeted marketing strategy of a commercial bank.

Development of a competencies management framework for human resources management.

Development of a balanced scorecard system for performance management of a bank's IT department.

Development of the CRM strategy for a major insurance company.

Numerous projects that have to do with issues of logistics in blood management at the hospital or the regional level.

Evaluation of a number of National Blood Systems of several countries.

Honors and Awards

Honorary Medal for significant achievements in Operations Research by the Institute for Management Sciences and Operations Research (INFORMS) at the INFORMS Annual Practice Conference, Baltimore, USA (2008).

Selection of paper (co-authored with Brachos D., Söderquist, K.E. and Kostopoulos K.) “Knowledge Effectiveness Social Context and Innovation”, published in Journal of Knowledge Management, as a Highly Commended paper at the Literati Network Awards for Excellence (2008).

Selection of papers among the Best Papers of the Academy of Management Conference (2007, 2009).

Teaching Excellence and Exceptional Contribution Awards, Athens University of Economics and Business (2002, 2003, 2005, 2008, 2010).

Best Paper Award for paper (co-authored with Paraskevopoulos D. and Ioannou G.) “A Decision Support System for Waste Lube Oils Collection”, presented at the 11th International Conference on Industrial Engineering and Engineering Management, Northeastern University, Shenyang, China (2005).

Elected Fellow of the Washington Academy of Sciences, for significant contributions in Operations Research and Applications in Health Care Management (1983).

1st Hellenic Prize in Operations Research, awarded by the Hellenic Operations Research Society (HELORS) for contributions made in investment theory (1981).

1st World Prize in the Practice of Management Science (Edelman Award), awarded by the Institute of Management Sciences (INFORMS / TIMS), for significant contributions in inventory management and logistics, and their applications to health care delivery systems (1979).

Grants, Contracts, and Funds

Has been awarded and has led more than 25 major research projects, funded by European Commission (EC), the Ministry of Research of Greece, the CNRS (France), the Foundation of Research of Cyprus, and others. Indicative projects include:

Evaluation of the impact of the Athens International Airport (AIA). Grant from AIA, 2009.

Evaluation of the impact of European R+D programs on the innovation and competitiveness of European firms, and formulation for guidelines for improvement of innovation European Commission. Lots 1 and 2 (EC - DG Enterprises, 2006-08).

Mapping of research activities, personnel, and potential, as well as formulation of guidelines for research policy and research collaborations among the Black Sea countries (EC: BS-RESPOT, 2004-06).

Evaluating scenaria of development of the various technological sectors, and the impact of innovation on various sectors (EC - FORESIGHT, 2002-03).

Evaluation of the socio-economic impact of the Community Framework Program (EC - DG Research, 2001-02).

Development and analysis of alternative scenaria on blood self-sufficiency in Europe (EC - DG V: Employment, Industrial Relations, Social Affairs, 1996-97).

Evaluation, feasibility study and strategy recommendation for the development of management training and management research in Lithuania (EC -DG I: External Relations, 1995-96).

Development of technologies for flexible production groups in the clothing industry. Evaluator for the European Commission (EC - DG XII: Science, Research and Development, 1994-95).

Development of innovative measures for the introduction of long-term unemployed in the labor market. Evaluator for the European Commission (EC - DG XVI: Regional Policy, 1996-97).

Identification of the impact of Information Society on Management and Organizations, and development of the MBA curriculum on and for the Information Society (EC - DG III: Industry, 1996-98).

Development of tools for fast development of executive information systems (General Secretariat of Research & Technology, 1996-98).

Reengineering of processes, development of information systems prototypes, and regional organizational transformation for the European blood industry. (EC - DG V: Employment, Industrial Relations, Social Affairs, 1990-93).

Development and implementation of Computer-Integrating-Manufacturing modules for the clothing industry (European Commission (EC) -DG XII: Science, Research and Development, 1988-90).

Case study analysis of the vulnerability of Information Systems in the banking and health sectors of Greece, Italy and France (EC - DG XII: Science, Research and Development, 1989-91).

In addition, he has served repeatedly as evaluator of proposals submitted for funding to the EC and to other funding organizations, as well as expert advisor on innovation and R+D management.

Selected Publications
Conference Proceeding
  1. Kostopoulos, K. C.; Bozionelos, N.; Prastacos, G. (2009). Team learning activities and team effectiveness: The role of psychological safety and task conflict. Academy of Management 2009 Annual Meeting: Green Management Matters, AOM 2009.
    https://api.elsevier.com/content/abstract/scopus_id/85088746103.
  2. Kostopoulos, K. C.; Brachos, D. A.; Papalexandris, A.; Philippidou, S.; Prastacos, G. (2007). Organizational unit ACAP: Social context and performance outcomes. Academy of Management 2007 Annual Meeting: Doing Well by Doing Good, AOM 2007.
    https://api.elsevier.com/content/abstract/scopus_id/85087245558.
  3. Kostopoulos, K. C.; Brachos, D. A.; Prastacos, G. (2004). Determining factors of ERP adoption: An indicative study in the greek market. IEEE International Engineering Management Conference (vol. 1, pp. 287-291).
    https://api.elsevier.com/content/abstract/scopus_id/17644412373.
  4. Ioannou, G.; Papalexandris, A.; Prastacos, G.; Soderquist, E. (2002). Implementing a balanced scorecard at a software development company. IEEE International Engineering Management Conference (vol. 2, pp. 743-748).
    https://api.elsevier.com/content/abstract/scopus_id/0036442948.
  5. Spanos, Y.; Prastacos, G.; Poulymenakou, A. (2000). The impact of information and communication technologies on firm structure: Evidence from an economy in transition. Proceedings of the 2000 IEEE International Conference on Management of Innovation and Technology: (vol. 2, pp. 573-579).
    https://api.elsevier.com/content/abstract/scopus_id/78649850228.
Journal Article
  1. Kostopoulos, K. C.; Spanos, Y. E.; Prastacos, G. (2013). Structure and Function of Team Learning Emergence: A Multilevel Empirical Validation. Journal of Management (6 ed., vol. 39, pp. 1430-1461).
    https://api.elsevier.com/content/abstract/scopus_id/84881059221.
  2. Paraskevopoulos, D. C.; Repoussis, P.; Tarantilis, C. D.; Ioannou, G.; Prastacos, G. (2008). A reactive variable neighborhood tabu search for the heterogeneous fleet vehicle routing problem with time windows. Journal of Heuristics (5 ed., vol. 14, pp. 425-455).
    https://api.elsevier.com/content/abstract/scopus_id/51649112458.
  3. Vakola, M.; Soderquist, K. E.; Prastacos, G. (2007). Competency management in support of organisational change. International Journal of Manpower (3-4 ed., vol. 28, pp. 260-275).
    https://api.elsevier.com/content/abstract/scopus_id/34547214902.
  4. Argyropoulou, M.; Ioannou, G.; Prastacos, G. (2007). Enterprise Resource Planning implementation at Small and Medium Sized Enterprises: An initial study of the Greek market. International Journal of Integrated Supply Management (4 ed., vol. 3, pp. 406-425).
    https://api.elsevier.com/content/abstract/scopus_id/34249650642.
  5. Papalexandris, A.; Ioaannou, G.; Prastacos, G.; Soderquist, K. E. (2005). An integrated methodology for putting the balanced scorecard into action. European Management Journal (2 ed., vol. 23, pp. 214-227).
    https://api.elsevier.com/content/abstract/scopus_id/17144416772.
  6. Tarantilis, C. D.; Ioannou, G.; Kiranoudis, C. T.; Prastacos, G. (2005). Solving the open vehicle routeing problem via a single parameter metaheuristic algorithm. Journal of the Operational Research Society (5 ed., vol. 56, pp. 588-596).
    https://api.elsevier.com/content/abstract/scopus_id/17644419663.
  7. Tarantilis, C. D.; Ioannou, G.; Kiranoudis, C. T.; Prastacos, G. (2004). A threshold accepting approach to the open vehicle routing problem. RAIRO - Operations Research (4 ed., vol. 38, pp. 345-360).
    https://api.elsevier.com/content/abstract/scopus_id/12344314528.
  8. Papalexandris, A.; Ioannou, G.; Prastacos, G. (2004). Implementing the Balanced Scorecard in Greece: A software firm's experience. Long Range Planning (4 ed., vol. 37, pp. 351-366).
    https://api.elsevier.com/content/abstract/scopus_id/4544290177.
  9. Spanos, Y. E.; Prastacos, G. (2004). The effects of environment, structure, and dynamic capabilities on product innovation strategy. International Journal of Entrepreneurship and Innovation Management (6 ed., vol. 4, pp. 620-638).
    https://api.elsevier.com/content/abstract/scopus_id/77956389858.
  10. Spanos, Y. E.; Prastacos, G.; Poulymenakou, A. (2002). The relationship between information and communication technologies adoption and management. Information and Management (8 ed., vol. 39, pp. 659-675).
    https://api.elsevier.com/content/abstract/scopus_id/0036721976.
  11. Ioannou, G.; Kritikos, M. N.; Prastacos, G. (2002). Map-Route: A GIS-based decision support system for intra-city vehicle routing with time windows. Journal of the Operational Research Society (8 ed., vol. 53, pp. 842-854).
    https://api.elsevier.com/content/abstract/scopus_id/0036682459.
  12. Prastacos, G.; Ipsilandis, P.; Kalogerakis, M. (1995). A decision support system for manpower planning in large organizations. Journal of Decision Systems (2 ed., vol. 4, pp. 139-153).
    https://api.elsevier.com/content/abstract/scopus_id/84953101722.
  13. Prastacos, G. (1984). BLOOD INVENTORY MANAGEMENT: AN OVERVIEW OF THEORY AND PRACTICE.. Management Science (7 ed., vol. 30, pp. 777-800).
    https://api.elsevier.com/content/abstract/scopus_id/0021461472.
  14. Prastacos, G. (1981). ALLOCATION OF A PERISHABLE PRODUCT INVENTORY.. Operations Research (1 ed., vol. 29, pp. 95-107).
    https://api.elsevier.com/content/abstract/scopus_id/0019437249.
  15. Cohen, M. A.; Prastacos, G. (1981). Critical number ordering policy for LIFO perishable inventory systems. Computers and Operations Research (3 ed., vol. 8, pp. 185-195).
    https://api.elsevier.com/content/abstract/scopus_id/0019665840.
  16. Brodheim, E.; Prastacos, G. (1979). A regional blood management system with prescheduled deliveries. Transfusion (4 ed., vol. 19, pp. 455-462).
    https://api.elsevier.com/content/abstract/scopus_id/0018634178.
  17. Prastacos, G.; Brodheim, E. (1979). Computer-based regional blood distribution. Computers and Operations Research (2 ed., vol. 6, pp. 69-77).
    https://api.elsevier.com/content/abstract/scopus_id/0018664192.
  18. Prastacos, G. (1979). Lifo distribution systems. Journal of the Operational Research Society (6 ed., vol. 30, pp. 539-546).
    https://api.elsevier.com/content/abstract/scopus_id/0018479127.
  19. Prastacos, G. (1978). Optimal myopic allocation of a product with fixed lifetime. Journal of the Operational Research Society (9 ed., vol. 29, pp. 905-913).
    https://api.elsevier.com/content/abstract/scopus_id/0018014005.
  20. Dominick, P.; Iordanoglou, D.; Prastacos, G.; Reilly, R.. Espoused values of the “Fortune 100 Best Companies to Work For”: Essential themes and implementation practices.. Journal of Business Ethics (forthcoming ed., vol. forthcoming).
    ominick, P., Iordanoglou, D., Prastacos, G., Reilly, R. (2020). Espoused values of the “Fortune 100 Best Companies to Work For”: Essential themes and implementation practices. Journal of Business Ethics. https://doi.org/10.1007/s10551-020-04564-8.
Courses

BIA 674 Supply Chain Analytics