Especially useful when importing or exporting text
Word Tutorial – Format Text with Paste Options
One of the most common things that computer users do is cut, copy, and paste things. If you’re cutting or copying from one place in a document to another, there’s not much to it; if you’re cutting or copying text from, say, a website into a Word document, things get a little trickier, because sometimes you want the copied text to look like it does on the website, and sometimes you just want it to blend in seamlessly with what you’ve already written.
Microsoft hasn't been blind to this, and gave us a number of cut, copy, and paste options in Word 2007 with the Paste button on the main ribbon. Microsoft recognized that what they had been doing up until now wasn't enough, and in newer versions of Word, they've gone a step further by giving users a much better preview of what they'll get if they choose a particular option.
There are two ways to use Word's paste function. The first way is to right-click where you want to paste something.