Yes, we can have this functionality by Workflow. Please follow this link to understand about the workflow https://help.salesforce.com/HTViewHelpDoc?id=customize_wf.htm&language=en_US https://developer.salesforce.com/page/Workflow_Rules http://help.salesforce.com/HTViewHelpDoc?id=creating_workflow_rules.htm
Yes, we can have this functionality by Workflow.
Please follow this link to understand about the workflow
https://help.salesforce.com/HTViewHelpDoc?id=customize_wf.htm&language=en_US
https://developer.salesforce.com/page/Workflow_Rules
http://help.salesforce.com/HTViewHelpDoc?id=creating_workflow_rules.htm
Thanks
Vikash_SFDC