Compatibility mode?
You can either right click and use troubleshoot compatibility, or go into a .exe's properties and set it to whatever version of windows that you want it to run in compatibility mode for.
Some versions of Windows 7 come with a version of Win XP installed one a virtual HDD so you can run older programs sand boxed if they aren't compatible with newer systems as well.
Here are some links to articles on the subject.
Compatibility Mode:
http://www.howtogeek.com/?post_type=post&p=227
Windows XP Mode:
http://www.howtogeek.com/?post_type=post&p=11060