#!/local/home/myuser/projects/installs/perl5.10.1/bin/perl

my $cmd = "echddo 'arghh'";

my $cmd_result = `$cmd 2>&1`;
my $cmd_rc = $?;

print  "CMD        : >>$cmd<<\n";
print  "RETURN_CODE: >>$cmd_rc<<\n";
print  "CMD_RESULT : >>$cmd_result<<\n";

-------
Which when run gives...

myuser@myserver./exec_test.pl
sh: echddo: not found
CMD        : >>echddo 'arghh'<<
RETURN_CODE: >>256<<
CMD_RESULT : >><<