The BIOS must support booting from a USB device, and many older machines don't. If the device isn't detected and listed in the boot device selections, then it's not possible.
If it has a floppy drive, then you could do a several things. If you can get a boot disk that can read the USB CD drive, then you can install Windows using the installer that you load from DOS (do a search on that, I forget the command). If you can't read the USB drive at all, then you could use a floppy that loads a network drive, and have the files on another machine so you can install from that or copy the files to the hard drive. Or you could remove the drive and use an adapter to connect it via USB or a standard IDE port to another computer, and copy the CD files to the drive and then run the installer, or even run the first part of the install which requires the CD before putting it back in the laptop.
You can't reinstall Windows using just the files that are on the hard drive in a normal install.