Connection gave error: "This application has failed to start because MSVCR71.dll was not found. (4296251)

Connect error with Toad to an Oracle database:

"This application has failed to start because MSVCR71.dll was not found. Re-installing the application may fix this problem."

or

"The program can’t start because MSVCR71.dll is missing from your computer. Try reinstalling the program to fix this problem."

Missing Windows dlls.

RESOLUTION #1:
Apply the missing dll using the following link

http://www.addictivetips.com/windows-tips/fix-msvcp71-dll-and-msvcr71-dll-missing-error-in-windows-7/
  
RESOLUTION #2:
Install the latest Oracle client.

Please contact your internal Help Desk before applying these DLLs