Hi Darshan - Welcome to the Atlassian Community!
In general, workflows should be as simple as possible to avoid confusion for the user. Reuse existing statuses with a generic name as much as possible instead of creating a bunch of very specific status names. Then use Conditions to provide clarity on transitions as needed.
Having said the above, Initial workflows should mimic the process your team is currently using for that type of work. Start with where you are, basically. Then improve and simply from there.
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