Which term best describes a formal approval for an action or decision?

The term that best describes a formal approval for an action or decision is "sanction." In this context, sanction refers to an authoritative approval or permission, often implying that the approval is granted by a governing body or organization. Sanctions can be seen in various contexts, such as legal, governmental, or organizational frameworks, where a decision requires explicit approval before it can be enacted.

Understanding this term in its proper context highlights its significance in both formal and informal decision-making processes. Organizations often require sanctions for policies, projects, or actions to ensure they align with regulations or standards. This formal approval can also serve as a mechanism for accountability, ensuring that actions taken have been vetted and authorized by appropriate authorities, thereby establishing legitimacy and often providing guidance for implementation.