CBM was plagued by mismanagement that caused things like the Amiga 600 to be obsolete by the time they were built. If you think about it, the 600 is not too bad and we have managed to make upgrades to it, but if you think about it I have to say that one thing I think commodore could have done differently was being at the forefront of innovation in computers, all the time. If they had taken the Amiga line and adapted it for very good expandability, such as:
Allowing the CPU slot the full memory bus width of the 32-bit standard (for a system max of 4GB)
Having AGA upgrades for the older Amigas
Introducing ECS and AGA at the same time, with the 3000 and 600 being relegated to lower cost versions of the A4000 and A600. This would've allowed AAA to take place.
Eliminate the PC Compatible division, and instead comission first party CPU emulation bridgeboards.
They also could've had the 68060 standard as soon as it came out, because I believe it predated the pentium.
They best road map would've been to then migrate to the 601 and 603 PPC processors with 040 and 060s available as compatibility bridges, unless the 68k line could be expanded.
Thats my opinion of their blunders