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MS SharePoint2007/2010 Workflow.
Dear Abdullah,
Whenever any approvals/associated list updates (within the same sub web) required SharePoint Workflow is the best candidate and There are certain possibilities where you can use either of the following two options for your need:
1. Event Receiver
2. Workflow (OOB or Designer or Visual Studio based)
The decision on above option will be based on the stability, migration, future changes scope.
Thus, If you want to implement a common list updates based on the current list in a single site and non developer is involved in creation of workflow then designer based workflow is the best option.
If you want to make fully flexible and configurable with your custom logic and custom configurations then you would think of the option for Event Receiver.
I hope this will help you in taking decision of what to be choosed for what up to certain extent.
However, decision can be taken based on the actual requirement only.
Thanks