Inefficiency. Its a notorious productivity-killer and can stunt the growth of any organization. Making the assumption that your team is functioning like a well-oiled machine is a dangerous thing to do. As a manager, working efficiently to me means being able to quickly and easily get the pulse of my team, and make sure that there is nothing (or anyone) getting in the way of our mission.
But wasting precious time in team meetings that can go on for hours isnt the solution either. In fact, the solution for my team was simple; staff spend 15 minutes each week reporting on the challenges and successes of the past few days, and I set aside five minutes a week reading well articulated feedback from each team member.