Cannot find one or more components. Please reinstall the application
Uninstall the Visual Studio 2010 Shell, this was done by downloading the installer.

Once downloaded, run the installer and remove the VS2010 Shell component. Once done, run the SQL 2014 Management Studio installer or do a repair on your existing installation, this will itself reinstall the VS2010 Shell components.

Then it opened for me.

In Order To Repair Sql Server Management Studio Do Below Steps - 


Open Control Panel Then Click on Program and Features
Then Find Microsoft Sql Server 2012 , Right click on it and choose uninstall 
Then uninstall wizard will open and Follow the wizard steps to uninstall it.