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In this video tutorial, the focus is on using the Find and Replace feature in Microsoft Word. This function is particularly useful for updating template documents. The example utilized is an employee handbook that contains a placeholder for the company name in various locations. To replace the placeholder, the presenter copies the term "company name" along with its brackets, then navigates to the Home ribbon's editing section to click on the Replace option. After pasting the copied text into the Replace field, the presenter notices an extra space that was copied and backspaces to remove it to ensure the replacement is accurate.