What is Approval?

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Approval Definition

Approval is the act of giving permission or providing acceptance for something to move forward or be completed. It may be given by managers, team leaders, or other key stakeholders. An approval process is used for a variety of reasons, such as buying goods or services, starting a new project, or releasing a new product. Most businesses have approval processes in place to comply with regulatory standards, stay on track with project schedules and budgets, and ensure everyone is on the same page.