To clarify, in your topic you refer to importing and exporting styles to Scrivener. Are you referring to the formal concept of a stylesheet? It doesn’t sound like it from your description, as you don’t mention taking any steps that might be involved in looking into that.
Is there a simple way that I can import the formatting from the original Word document into Scrivener and use it for the compile function when I send it back out to Word?
For the first part of that, Chapter 9, Gathering Material, in the user manual PDF is a good place to start. The first subsection in that chapter covers file import, which is what you’re looking to do. You will see that copy and paste is mentioned as one of the methods there, but it is listed last for a reason. Using full file import, as described in options (1) or (2) is almost always going to produce a more accurate result.
As for the second part of your query, this thread describes how to use the compiler more simply. But, if you have no idea what is going on, it would be a good idea to quickly go through the sections in the interactive tutorial (Help menu) on compiling, as this kind of basic approach is one of the very first things we introduce you to (understandably).