During the development of their activities, companiesmodify some factors related to the decisions and actionsto be taken in the general and specific environment. Inthis process, they implement norms and policies tooptimize the use of resources, formulate regulations,respect the right as an administrative principle, createmechanisms of self-control, demand responsibilitiesfrom their collaborators and make decisions. Obviously,all are tactics to formalize business management andthe decisions to be made, with a view to maintaininggood governance and being recognized in theenvironment and the sector. The objective of the studyis to analyze the perception of Colombian entrepreneursin relation to the formalization of support for decisionsand the recognition by the environment and the sector, the actions that for a good government. The sampleused was made to 361 people in twelve privateColombian companies. An exploratory and Alphafactorial analysis of Cronbach was made, and throughthe difference of means common or distinctive patternsbetween companies were identified; and their influenceon business sustainability. This descriptive studyconcludes that companies must understand and take onthe new demands of the environment, their implicationsin the management and decision making, but alsorenew the knowledge to develop competencies thatallow to fulfill the good government. It is also concludedthat recognition by the environment and the sector is akey factor in companies, due to their high degree ofcompliance with the legal framework and confirmationof transparency in the management and decisionmaking processes of the company.