The benefits of having a code of conduct include: - Enhanced Reputation: A well-implemented code can improve the organization’s reputation among customers, suppliers, and the public. - Legal Protection: It can provide a degree of legal protection by demonstrating the organization’s commitment to ethical practices. - Employee Guidance: It offers clear guidance to employees, helping them make ethical decisions. - Risk Reduction: By outlining unacceptable behaviors, it helps to reduce the risks associated with unethical practices. - Stakeholder Confidence: It builds confidence among stakeholders that the organization is committed to ethical behavior and corporate social responsibility.