The magento script that is used to initiate any native magento commands is located inside <magento_root>/bin.
Therefore, when you’re running a command from the <magento_root> then you need to specify where the magento script is (i.e. bin/magento ...).
If you happened to be running the command from the bin/ folder then you wouldn’t need to specify a location because you’re already there.
You can run the command from anywhere on the server you like as long as you account for the location of the script (absolute or relative). It’s down to personal preference.