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Approval to become an approved business sponsor takes a few weeks and it also boils down to how proactive the company is with supplying the required information. A lot of applications take forever or fail completely simply because the company tries to do the application on their own, without a full understanding of the requirements.

Once the company is approved as a business sponsor, they can lodge the nomination which can take a few days to a few weeks, depending again on how busy immigration is and how complete the application is.

The 457 visa can be lodged in parallel with the nomination, though it won't be approved before the nomination is approved. Timescale ranges from a few days to about 6 weeks. The 457 visa is lodged at the processing centre closest to where your company's HQ is based, so there are variations in the timescales across the various centres.

All in all, you should allows about 2-3 months for the whole process to be completed, assuming that there are no major hurdles.
 
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