The document discusses the steps involved in executing a program written in language L. These steps include translation, linking, relocation, and loading. The translator outputs an object module, which contains program code, relocation tables, and linking tables. The linker processes multiple object modules, relocating addresses and resolving external references to produce an executable binary program. It builds a name table containing symbols and their loaded addresses. This allows the linker to modify address operands to point to the correct memory locations for program execution.