I currently have several Microsoft Word documents that are sitting on my Google Drive and was uploaded over the past few months. I understand that it is possible to convert Microsoft Word documents to Google Docs format during file upload time, but is it possible to convert documents after uploading them to Google Drive without having to download and reupload the same document again?
To convert a document, right click on it inside Google Drive. Choose Open with → Google Docs. A new window will be opened with the document in Google Docs format and it is saved inside the same folder in your Google Drive.