This is one area where the deviation from the book did not improve the movie, storywise, though it made for a more dramatic scene. The other four families will absolutely know Michael ordered it. His being the only Don who survives will ensure that.
As I said, the assassinations of the heads of all four of the other families is an iconic scene, and makes for great drama, but from a strategic standpoint, it really makes no sense -- the other four heads will all have successors ready to take the place of the murdered leaders. By killing all the other dons, Michael is declaring war on all four of the other families, and doing so at a time when Tessio's regime is compromised, and possibly untrustworthy.
This is why, in the novel, Michael only had Barzini and Tattaglia killed (along with Moe Greene out there in Vegas, just as in the movie). From a story point of view, that makes a whole lot more sense: it leaves the Stracci and Cuneo families neutral, and having no reason to oppose the Corleones. By assassinating Don Stracci and Don Cuneo, Michael would force their families into alliance with the Barzini and Tattaglia families. By leaving them alone, however, Michael simultaneously gives them no cassus belli, and can then point to the fate of Barzini and Tattaglia as a warning to Don Stracci and Don Cuneo not to tangle with the Corleone family. This actually makes the Stracci and Cuneo families more likely to put pressure on Barzini's and Tattaglia's successors to end the war -- both sides have taken losses, Michael had legitimate grievances after the attempt on his father's and his lives, and the murder of Sonny. Time to end the fighting so they can all get back to doing business. None of that works if Michael goes after everybody.
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