One of the most widely printed and quoted statements of business ethics in the world is the Rotary 4-Way Test. It was created by Rotarian Herbert J. Taylor in 1932 when he was asked to take charge of a company that was facing bankruptcy. Taylor looked for a way to save the struggling company mired in depression-caused financial difficulties. He drew up a 24-word code of ethics for all employees to follow in their business and professional lives. The 4-Way Test became the guide for sales, production, advertising and all relations with dealers and customers, and the survival of the company is credited to this simple philosophy.

The 4-Way Test was adopted by Rotary in 1943 and has been translated into more than a hundred languages and published in thousands of ways. Herb Taylor became president of Rotary International in 1954-55.