In Terms .NET 3.5,What does one need to build or execute .NET applications?

To execute a standalone .NET application (Windows or Console
application), one needs to first compile all its constituent
assemblies and modules including the executable assembly. Once, the
constituent assemblies are compiled, one needs to make sure that the
target system contains the .NET framework. The application can now be
executed by running its executable assembly (the .exe file). The
executable assembly (.exe) is a Win32 executable that hosts the .Net
CLR (Common Language Runtime), which exists as a COM component, in its
process space and initializes it. Once the CLR is hosted and
initialized, the starting point of the .NET executable assembly is
passed to the hosted CLR which starts the execution of the program by
translating and executing the parts of the program code.

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