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The key to working effectively in Word is Styles.
Styles, styles, styles, styles, styles and styles.
Styles are important.
Not only will using styles make you more productive in everyday document creation and formatting, it will also unlock the potential of lots of Word's advanced features.
The creation and editing of documents becomes something simple and joyous, birds are singing in the trees and the world is a happy place.
Am I getting my point across here? Styles are important - now go and learn how to use them here.