You should use a modern compiler. It is entirely possible that code written in the heydey of Turbo C 2.0 won't run on a modern machine. For instance, modern desktop machines, whether Windows or *nix or something else, run in a protected mode that ordinarily prevents one from accessing all memory freely, or from accessing I/O ports. Old Borland code for graphics operations, for instance, has to be rewritten. How it has to be rewritten is entirely platform- and OS-dependent. The fact that Turbo C will compile without complaining only means that Turbo C is non-compliant, or that it is not written for the current state of the platform.
Messing with a makefile is not going to solve these problems. Once you have working code, then the makefile thing is just another learning step.