Is there any direct  link where we can find status updates by all members 

Create an activity stream, select the content type to be 'Status Updates' - use the url for the activity stream.

When I create - will this be for every one or only for me ?

5 minutes ago, Nathan Explosion said:

Create an activity stream, select the content type to be 'Status Updates' - use the url for the activity stream.

Thanks it worked - However It does not have an option for other members to update status 

http://engineeringwall.com/discover/7/

You could always test it out yourself, quite easily......create one as yourself. Log out, log in as a test user - do you see it?

Anyway....

Do it from the front end, it's yours (it's why it is called 'My Activity Streams')

Do it from the ACP, it's everyones and will appear in the 'Default Streams' list.

As for an option for updating status......Create -> Status.