Voluntary codes are effective in addressing the needs of consumers while ensuring that the company remains competitive. Through the voluntary codes, companies and organizations strive to conduct themselves and their business in upright ways that favor them in the market as well as the consumers. The benefits of voluntary codes include achieving goals and interests the company has set towards the public, enabling the company to attract more customers as well as regulating burdens ion the taxpayers to benefit both the company and its customers (Keller, 2008).

Maintaining voluntary code of ethics is crucial in improving the image of the company and a good reputation among its suppliers and its general supply chain. Without such ethics, it might be difficult even for a company to its social responsibilities, building and maintaining customer trust. This ethics significantly improve the system of delivery within a system increasing its effectiveness and reduce cost (Jenkins, & Unies, 2001).

The limitation so the is that these codes only dress the issues that is of important to the company mostly and not the public. The codes address potentially highly damaging areas of interest to the company and there more likely to ignore other larger problems that may arise from the areas that are neglected as lees important like distribution. Another limitation is these codes are only enacted once complaints are launched and the company does very little to ensure prior enforcement of the codes. This leaves the burden of observing if these codes are adhered by to the public (Franco et al, pg. 1).

Part B

Benefits of zero tolerance against corruption include increase in revenues, as the company is able to reduce wastages. The company has improves its public image to the pubic increasing customer trust. Other advantage include management efficiency as self-motives are interests are eliminated. The other benefit is improvement in quality as services as the business will focus on genuine customer complaints to be address.

The company can engage in environmentally responsible practices through recycling of waste products to reduce pollution. This can reduce the cost of raw materials that the company is planning to purchase. Business also can engage in environmental control programs like climate change to ensure their sustainability. For instance, businesses that depend on environmental products are likely to be affected in due to climate change, which may reduce availability and quality of raw material. Through engaging in environmental activities, a business demonstrates to its customers that it cares about the environment gaining their support while attracting new customers. (Mazurkiewicz, 2004).

In conclusion, business benefit significantly be enacting voluntary codes and enforcing them proactively. Apart from increasing customer trust, which directly increases sales, businesses also easily achieve their set objectives and goals. The zero tolerance policy to corruption is essential in maintaining employee discipline ensuring that the company services runs efficiently. It also boosts the public image and reputation among its clients. The business can engage in environmental responsible practices through recycling waste and climate control programs

References:

Keller, H. (2008). Codes of Conduct and their Implementation: the Question of Legitimacy (pp. 219-298). Springer Berlin Heidelberg.

Jenkins, R., & Unies, N. (2001). Corporate codes of conduct: Self-regulation in a global economy.

Broomhill, R. (2007). Corporate Socal Responsibility: Key Issues and Debates. Don Dunstan Foundation.

Mazurkiewicz, P. (2004). Corporate environmental responsibility: Is a common CSR framework possible. World Bank, 2.