You can use article status to track the progress of an article from creation to review to approval. This setting is only to help you with your workflow. It does not affect how the article is displayed to the end user.
Click on the article's title
Modify Owner and/or Status
Use the Bulk Edit interface
You can change the owner or status of an article using the Bulk Edit interface as well. If you are not familiar with how to use the Bulk Edit interface refer to the following article: Bulk edit article properties