Troubleshooting : Msg 3201 – Cannot open backup device .. Operating system error 3 (The system cannot find the path specified.)

Error :

Msg 3201, Level 16, State 1, Line 1
Cannot open backup device ‘Drive:\Folder\Database_Name.bak’. Operating system error 3(The system cannot find the path specified.).

Route Cause: Backup folder is not created on Drive 

Solution :  Make sure the folder has been created before performing backup .