The application was unable to start correctly error with Adobe Photoshop

Hi,
I was installing Photoshop CS5 on and AMD processor with Win 7 and it was okay.
However, when I was trying to launch it this error popped into my screen (please see below).
I searched the web and found several solutions to this but didn’t know how to start, they were rather confusing.
Can anyone guide me on how to resolve the issue?

Photoshop.exe – Application Error
The application was unable to start correctly (0x000001d). Click OK to close the application.
