In Linux/Unix Shortcuts are knows as Link
Link are of two types Soft links (symbolic links ) or Hard link
Soft Links (symbolic links )
You can make links for files & folder & you can create link (shortcut) on different partition & got different inode number from original.
If real copy is deleted the link will not work.
Hard Links
For files only & you cannot create on different partition ( it should be on same partition ) & got same inode number as original
If the real copy is deleted the link will work ( because it act as original file )
Question: How to make soft link ?
Answer: A soft link can be made with ln -s, 1st you need to define the source and then you need to define the destination ( keep it mind you need to define the full path of source and destination otherwise it will not work )
sudo ln -s /usr/lib/i386-linux-gnu/mesa/libGL.so.1 /usr/lib32/libGL.so.1
(----------Source-------) ( Destination )

As you can see if has different inode and can be made on different partition
Question: How to make Hard link ?
Answer: A Hard link can be made with ln , 1st you need to define the source and then you need to define the destination ( keep it mind you need to define the full path of source and destination otherwise it will not work )
I have a script in /script folder name firefox
ls -i ( Shows you the inode )
5898242 firefox
ln /scripts/firefox /scripts/on-fire
( Source ) ( Destination )

As you can see it has same inode and if I delete the original one the link will work, as it act as original

1st i have check that link is working or not, then i have deleted firefox script
You Question : It would be nice if someone could provide a setting where hard link might be preferable over a symbolic link.
Answer : Depending on disk partition layout is, Hard Link have limitation must be on same partition ( -1 point ) and can be of file ( -1 point ) ) but +1 point is that if original is deleted the link will work as it act as original
where as soft link can be made of folders & files (+1 point) , No partition limitation (+1 point), But only (-1 point) is that if source is deleted the link will not work