Dear Amit,
The guide does not tell to simply double click the executable but asking to open a command prompt windows and the commands inside. 4FM Getting Started Guide, chapter 11, point 9) and 10).
Can you also make sure that both C:\Program Files (x86)\4dsp\4FM Core Development Kit\Bins and C:\Program Files (x86)\4dsp\FMC Board Support Package\Bins are part of your PATH environment variable. If not there, please add both path and restart (reboot) your computer.
Best Regards,
Arnaud