Every SharePoint developer knows where to execute stsadm. The location of the 12 hive is pounded into your brain the second that you come for the first time into contact with SharePoint. But what about us lazy developers. Those who don’t want to navigate to the bin directory and want an ease solution :-) Just copy this into your command prompt and you will be able to execute stsadm from anywhere.
@set PATH=C:Program FilesCommon FilesMicrosoft Sharedweb server extensions12BIN;%PATH%