Error on MS Outlook Installation: Outlook.Exe – Unable to Locate Component

Hello TechyV users!
Help please! I've already reinstalled Outlook two times but I keep getting this annoying error! I'm afraid if I try again my computer will hang up. Besides, I think it will just give me the same error again. Any suggestions to fix this? Any idea will help, thank you!

Error:
This application has failed to start because MSVCR80.ll was not found. Re-installing the application may fix this problem.
