By approaching business structure as a component of social structure, the present chapter analyzes the hegemony of business in the local and regional development of a Latin American nation (Colombia), as well as the relationships between public and private (business) elites. In the-authors' view these are critical issues for the structural analysis of business, in particular in developing nations, and represent a needed complement to approaches centered upon economic concentration and market structure, the role of foreign investment, and internationalization of capital or corporate structure.