To execute an Excel file from a Fortran program, it's suggested to use a method similar to ShellExecute() available in C/C++. This involves creating a batch file that runs the Fortran program and then launches Excel with the desired file. Alternatively, Fortran can create a text file formatted for Excel by using tabs or commas to separate data, which can then be opened in Excel. For dynamic file naming in Fortran, string concatenation can be achieved by converting numerical variables to strings and combining them with fixed text. Overall, while direct execution of Excel from Fortran is limited, there are workarounds to achieve the desired outcome.