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First of all, you can't control the contents of a cell from a different cell. You need to put the formula in the cell you want the results to appear in.
In this case, try, putting the following formula in the Manager approval field.
=IF([Submit for Approval]@row, "Submitted", "Your Text Here")
If you want the field to be blank when the submit is blank then erase, "Your Text Here. Or put in a different statement for when its not submitted.
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