Final answer:
The first 'law' of business is 'take care of the employees' is true. By nurturing and supporting their employees, businesses can gain a competitive advantage.
Step-by-step explanation:
The statement that the first 'law' of business is 'take care of the employees' is True. When managing for competitive advantage, businesses recognize that employees play a crucial role in their success. By taking care of their employees, businesses can improve employee satisfaction, productivity, and loyalty, ultimately leading to a competitive advantage.