This article was written by Erin McGee and Tanya Avadia.
Stevens Institute of Technology’s School of Business would not be where it is today without hard work and dedication from all fronts. However, at the center of its accomplishments is the contribution of the dean of the School of Business, Dr. Gregory Prastacos. It is because of all that has been achieved during his tenure at Stevens that the School of Business is reputed in such high regard. Under Dean Prastacos’ guidance, the School of Business experienced much reform: an increase in enrollment, integration of business and technology, positive placement outcomes, and much more. The School of Business Prastacos inherited 10 years ago was a very different one than it is now and its success cannot go unnoticed. It is for this reason and many more that it is proper to extend a heartfelt congratulations to Dean Prastacos for the extension of his term here at Stevens and to note what constructive changes will occur during the continuation of his term.
Dean Prastacos’ career in academia started at Columbia University and from then on, he has gone on to be part of facilities at other top institutions such as Athens University of Economics and Business in Greece and the Wharton School at the University of Pennsylvania. Dean Prastacos has also been highly recognized for his work on operations research which has led him to win many awards and distinctions. Starting in 2012, he was officially instated as the Dean of Stevens School of Business.
From the beginning, Dean Prastacos was determined to implement Stevens’ strategic plan that included bettering the quality of education. During his time as the dean, undergraduate and graduate enrollment saw unprecedented growth as the school’s undergraduate amount rose 200% from 2012 to 2021 and the graduate enrollment experienced a 94% increase. Additionally, new faculty were hired and the launching of several new majors and programs, both on graduate and undergraduate levels, contributed to the success of the Business School. It is due to his diligence that Stevens Institute of Technology is now accredited by Association to Advance Collegiate Schools of Business (AACSB). This accreditation is the longest-standing and highly recognized form of accreditation that business schools and programs can receive. This, in turn, places Stevens among the top 5% of business schools to receive such a distinction.
In addition, Dean Prastacos’ term as Dean saw the launch of two major projects and centers associated with the Stevens School of Business. The first of which was the MaCuDE Project, a Stevens-led initiative that stands for Management Curriculum for the Digital Era. The project, which includes more than 50 business schools in the United States and Europe, aims to update education in the fields of finance, leadership, ethics, and business to provide students with the necessary tools to succeed, particularly in the intersection of business and technology. The second major development is the Stevens-led Center for Research and Financial Technologies (CRAFT), which is the first ever National Science Foundation backed financial technology research center. The industry, academia, and government partners in the center plan to work towards generating research and student projects that will better develop the workforce and help build a finance curriculum for a changing world.
Moving forward, Dean Prastacos plans to continue with the new Stevens Strategic Plan of focusing on technology-driven research and education. This includes attracting top students and faculty, increasing national rankings, maintaining alumni engagement, and continuing to place students in high-impact jobs. He also plans to keep evolving and growing the business school to adapt to an ever-changing economy.
Dean Prastacos will continue to serve as the Dean until August 2024, and looks forward to more achievements for the school in those years, saying: “After 10 years, I am equally if not more enthusiastic about the role and the potential of Stevens and the Stevens Business School. It has helped me develop my skills of addressing difficult situations […] and fast changing environments. It has helped me improve my communication skills in communicating this vision and energizing our community of faculty, students, and staff. It has helped me understand better the international environment and contribute more as a leader to Stevens and the broader academic community.”
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