launchy: command not found

Maybe Your $PATH variable doesn't contain the default paths? echo $PATH should give something like:

[root@server ~]# echo $PATH
/usr/local/sbin:/usr/local/bin:/sbin:/bin:/usr/sbin:/usr/bin:/root/bin

If it's empty, You may set the PATH variable with this command

export PATH="/usr/local/sbin:/usr/local/bin:/sbin:/bin:/usr/sbin:/usr/bin:/root/bin"

On CentOS possible default full paths are:

/usr/bin/launchy - from package: rubygem-launchy
/usr/lib/ruby/gems/1.8/gems/launchy-0.3.7/bin/launchy - from package: rubygem-launchy

You may install the required package with command yum install {package}

On Debian possible default full paths are:

/usr/bin/launchy - from package: launchy

You may install the required package with command apt-get install {package}

Error in other languages:
launchy: bevel nie gevind nie
launchy: comandă negăsită
launchy: comando não encontrado
launchy: commande introuvable
launchy: command not found
launchy: käsku ei ole
launchy: không tìm thấy lệnh
launchy: komanda nerasta
launchy: Kommando nicht gefunden.
launchy: kommandot finns inte
launchy: komut yok
launchy: nie znaleziono polecenia
launchy: níor aimsíodh an t-ordú
launchy: no se encontró la orden
launchy: no s'ha trobat l'ordre
launchy: opdracht niet gevonden
launchy: parancs nem található
launchy: perintah tidak ditemukan
launchy: príkaz nenájdený
launchy: příkaz nenalezen
launchy: команда не найдена
launchy: командата не е открита
launchy: 命令找不到
launchy: コマンドが見つかりません