It probably does just that - Program doesn't run.
You could try right clicking the program, choose "Properties" and, in the window which shows up, switch to "Compatibility" Tab.
Try experimenting with the settings and see the results. However, I doubt this will trully help. Program might be missing some of its routines and DLL files it requires for its function. Try (re)installing Visual Basic Runtimes (all of them - 1, 2, 3, 4, 5, 6) - they should be available on Microsoft's web site for download (or at least some of them). Download and then try again.
It's nearly impossible to diagnose something like that without knowing to which application you are referring to. So here's the question:
Which Program you're trying to execute?