You have various editing options. Some examples:
You can move the object by dragging it to a different position.
You can edit the Name attribute by pressing F2 and then changing the name.
You can place attributes of the object in the modeling area.
You can replace the object with another object of the same type.
You can make structurally relevant objects the starting point of a SmartDesign.
You can redefine the properties. Right-click the object and select Format > Representation. The Object appearance dialog opens.
You can run a specified link, that is, a program, file, or hyperlink by selecting the File > Run menu item.