In fact, Microsoft doesn't produce anything that matches the specially designed genealogy programs, such as The Master Genealogist, Legacy Family Tree, RootsMagic, AncestralQuest, Reunion, and all the others. However, Microsoft does produce templates for existing products that may be useful to genealogists.
The first is a template for Microsoft Access that is a genealogy data base. I'd suggest using this only if you are already comfortable with Access; it isn't for newcomers. However, if you are even moderately expert at Access, this template will allow you to create a new database that will import GEDCOM files as well as allow you to enter and display information about families and individuals. It also has very limited reports, but you can always add your own reports.
This template won't put the other genealogy software producers out of business, but it is a good start at "rolling your own" database. You can find the Microsoft Access genealogy database template at http://office.microsoft.com/en-gb/templates/TC010765241033.aspx?pid=CT102144001033
Another useful set of templates are the multiple family tree templates for Microsoft Office. These are a collection for Microsoft Word and a few for Excel. I also found templates for PowerPoint and for Visio. Most will display relationships between two people (You have to manually enter the data; these templates do not read from any database.). For instance, you can show the relationship between your family and great Aunt Nell that may help stem that look of confusion as you explain that she is your grandmother's sister and her children are your first cousins twice (or is it three times?) removed. Other templates include a set of letters requesting copies of records from libraries, funeral homes, public archives, and more.
One template for Microsoft Office even provides the basis for writing a family history book.
You can find the templates for Microsoft Office at http://office.microsoft.com/en-gb/templates/results.aspx?qu=genealogy&av=TPL000
My thanks to Jeannine Powell for telling me about these templates.