If it execute.cmdreturns an integer than you can use IF commandto check its return value and if it matches what you want, you can calllaunch.cmd
Suppose it execute.cmdreturns 0 if it is successful, or an integer> = 1 otherwise. The package will look like this:
rem call the execute command
call execute.cmd
rem check the return value (referred here as errorlevel)
if %ERRORLEVEL% ==1 GOTO noexecute
rem call the launch command
call launch.cmd
:noexecute
rem since we got here, launch is no longer going to be executed
, rem .
,
JP