From an external perspective,
a code can be seen as an attempt to over-rule the existing legislation in different
countries as to create a common compass to measure the ethical behaviour of the
employees in different cultures which also implicates the avoidance of legal consequences and the promotion of a good public image(Schwartz, 2001). Also, Lozano (2001) considers that a code can help to determine
more precisely the social responsibility of a company, with benefits on the entire
economy itself. As a conclusive argument, the implementation of a code is seen as
a good managerial practice with respect to both internal and external stakeholders