Peter Culpepper, CFO of Provectus Pharmaceuticals, manages compliance and establishes internal controls, including adhering to SOX 404. He develops relationships with investors and evaluates management decisions and structures. Pete Culpepper offers tips on building a corporate culture of openness and honesty.
– Provide clear expectations for conduct and reporting. Depending on a person’s professional background, some practices are acceptable in one context or industry and not in another. Make sure new hires know what’s expected of them, from completing work projects to reporting to management.
– Build a system of checks and balances. Team members and executives should be in a position to monitor their colleagues and correct them, if faulty behavior arises. Self- and group-monitoring is more efficient than one person attempting to control all.
– Work hard at creating a positive culture. A corporate culture doesn’t spring up out of nowhere. It is a combination of hiring practices, colleague interaction, how success is perceived and recognized, and more. Celebrate hard-earned successes at your company and provide opportunities to recognize excellence and reward honest leaders.
