Final answer:
Escalation of commitment occurs when employees increase their support for a decision because most of their colleagues also support that decision.
Step-by-step explanation:
Escalation of commitment refers to the tendency of individuals or groups to continue investing time, money, or other resources into a decision or course of action even when it is no longer rational or beneficial. It is not influenced by the support or opinions of colleagues. Therefore, the statement in the question is False.