Management meetings is much more than what you have described.
Management meetings are opportunities for the management team to brainstorm on key issues relating to the business and arrive at concrete solutions.
It is true that some management meetings can be unnecesarily long and little or nothing may be achieved at the end of some of these meetings.
However, it is still the most effective means of sharing knowledge and brainstorming on possible solutions to business issues.
The key to effective management meetings is to agree on ground rules and for the team members to demand that those rules be adhered to by the chairperson.
One useful ground rule is to set start time and finish time for every meeting. And when the meeting has passed the set time, someone should call for closure.