I don't believe this is a Dell problem. This is caused by Microsoft changing the rules of play...
It used to be that Programs were installed to Program Files....
In Microsoft's new subscription based pay-as-you go business model, programs need to be changed so that they have control over their income. So foreign companies cannot steal their intellectual property. We as users & IT people are all in for a rocky road.
There are a few posts in this thread that are helpful now but may not be in the future as software progresses.
OEM Office comes with no product key. You have to launch the pre-installed office that ships with your PC to the be able to login to the office live account and obtain your product key, but more importantly, download your installer.
Then when you run your installer it will fully install the desktop apps and create the Program Files\Microsoft Office folders and add the mail control panel application so you can manage your profiles.