With a link in your home directory, you need to ensure that is where you are at in order to do ./matlab. Or you would have to use a full path, /home/user/matlab.
If the program is in a directory that is in your path, you just type its name.
If you have a .bashrc or .profile in your home directory, you could add the matlab directory to your path instead.
vi .bashrc
Insert line
PATH=$PATH:/usr/local/matlab/r2011a/bin/