When launching Site Administration the following error is received - "The application has failed to start because its side-by-side configuration is incorrect. Please see the application event log or use the command-line sxstrace.exe tool for more detail."

Windows Event Viewer error may be similar to the following:
Activation context generation failed. Dependent Assembly Microsoft.VC80.MFC.processorArchitecture="x86",publicKeyToken=,type="win32",version="8.0.50727.762" could not be found. Please use sxstrace.exe for detailed diagnosis.