Calibration meetings are like a bunch of companies who sell the same good getting together to agree on a “fair” price. It could work in theory, but is much more likely a way to monopolize the market and charge extreme prices.
Calibration meetings are popular because they are good for the people in the meetings, terrible for everyone else. Unfortunately the people in the meetings are the ones deciding if they should do it. How many other practices follow this pattern? The decision makers make decisions that benefit themselves over the company. How could a CEO possibly combat this? How could a CEO not fall into this same trap? Should they? Should we expect anything else?