Public service

According to economist Milton Friedman, the biggest social responsibility of a corporation is to maximize profit for shareholders. In fact, this was the dominant view among businesses for several decades as they only focused on profit as their bottom line. However, more recently, corporations have started to realize that they do in fact have a role in public service. This role involves social, economic, and environmental issues (in other words, the tipple bottom line).

Environmentally, a business must monitor and eventually reduce the amount of water and electricity consumed. A company must also have an adequate waste management system for both solid and chemical wastes. Such programs have been adopted by ON Semiconductor and are evident in the company's CSR reports.

Along with producing profit, a business must also strive toward social justice in order to secure a healthy and talented workforce. This involves hiring and remunerating individuals according to work-related standards as opposed to gender, race, ethnicity, age, etc. ON Semiconductor is a company that does in fact follow such standards and compensates individuals according to his or her talent.

Socially, ON Semiconductor is working toward establishing more robust philanthropic programs that will allow the company to invest greater time and money within communities. This includes a corporate giving program as well as a volunteer time off policy. The company has also taken a strong stance on conflict minerals, which has posed a significant human rights issue in the DRC and adjacent country. Accordingly, ON Semiconductor strives relentlessly to ensure that there is no trace of conflict minerals throughout the company's supply chain.

Ultimately, while being a corporation, ON Semiconductor is committed to public service by developing sustainable business practices that minimizes businesses's carbon footprint and enhances its social impact within its workforce and community. In that sense, ON Semiconductor is a corporate citizen adhering to several of the tenants followed by public sector organizations that are engaged in public service or urban development.