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Why is a Code of Ethics Important?

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I am trying to formulate a response that answers both question in a general sense and specifically why does the ICMA need such a code. I have been reading the information contained in the below link for the last two days and just cannot bring the right words together to find a sound response. Any help of any kind would be of great help. http://icma.org/en/icma/ethics/code_of_ethics.

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This solution discusses the importance of a code of ethics.

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A code of ethics is very important for most organizations, due to the fact that this code sets the parameters by which management and staff must conduct activities ...

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