qt4-embedded executable error: No such file or directory

Question

I am using qt4-embedded version 4.7.8 to cross-compile applications for arm7l target. I have configured qt correctly but once I launch the executable on the target, I am getting this error: "no such file or directory" What am I doing wrong? My development environment is linux ubuntu 16.04, my cross-compiler is arm-linux-gnueabi. The target is 32 bit. I'll appreciate any help.