Updating a status for new form entries based on approval

Hi all. I need help please. I have a form that generates new entries on a list. They are set to default to a "Requested" status when they arrive on the sheet. Each entry is set to go through an approval workflow ending with a Senior Manager Approval. There are a number of columns but the pertinent ones would be:

Status (this field is a single-select dropdown)

Senior Manager Approval (this field is generated by the approval workflow)

Ideally when new entries land on the sheet, if they have been approved by the Senior Manager ("Approved"), I would like the Status column to be changed to "Approved for Review". This way it would be visually clear to those looking at the sheet which entries have completed review versus which are still in workflow.

I learned how to do an if-then statement to accomplish this - but this will not work for entries which are added via the form because the formula would not be present in that newly added row and cell.

Is there any way to set up a conditional status change, so when a row has been added, and all approvals are issued, the Status field changes from the default "Requested" to "Approved for Review"?

Thanks for your help.


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