CITY INSTITUTIONS REPORT

Smithfield Market – City Institution Report
Smithfield Market: Yesteryears
For over 800 years, the London Central markets, more commonly known as Smithfield which is owned by the City Corporation, has been the oldest and largest wholesale market not only in the UK but also in Europe where meat has been traded. With a thousand year history, it is one of the great medieval markets in the City of London that still lasts on its original site.
Once upon a time a “smooth field” market existed in the shadow of the old Roman city walls as a vast recreational area which was used for jousting and also as a place of execution during the Reformation. Then in the late Middle Ages, it became a famous weekly livestock and cattle market due to its access to grazing and water. It was described in 1174 as ‘a smooth field where every Friday there is a celebrated rendezvous of fine horses to be sold, and in another quarter are placed vendible of the peasant, swine with their deep flanks, and cows and oxen of immense bulk’ [2] .
During this time, London’s population continued to expand rapidly and the market got to operate more often according to citizens’ demand so it opened most days a week. Hence, after 1725, the livestock’ size of the market had been grown significantly since animals were driven from all over the country to Smithfield such as sheep from Lincoln and the West Country or cattle from Scotland etc.. By 1800, as a result of the growth of population, there was also an increase in meat demand as well as some negative issues such as the place got more crowded with cattle, the public could not stand the encroachment; for instance, the noises, the dung, flies and danger toward pedestrians. Therefore, in 1852, a Royal Commission was held and the Smithfield Removal Act was passed, forcing the City authorities to move the market to a new location which was an open site north of Islington, called Copenhagen Fields. Eventually, the sale of live animals was moved to new place and thus a new plan was established to start a new market which specialised in cut meat.
In 1863 that the underground Metropolitan railway started a revolution in transferring animals from places to Smithfield which helped to save time and less wasteful as animals stopped losing weight while moving long distance. After that, the City of London Corporation acquired an Act of Parliament to build a new dead meat and poultry market on the Smithfield site, work for this initiative began in 1866. The market was built on two levels which were based on a City Architect Sir Horace Jones’s design that included a basement for unloading meat from train and main hall with possible access for the buyers. The buildings were completed in 1868 with the total cost of £993,816. The whole area of Smithfield Market, where storage warehouses and cold stores have been built, covers more than ten acres. Plus, there are hundred shops – which between them have two miles of frontage – where 9,000 tons of produce could be displayed at a time. There are thirty gates, on to which four hundred four-ton trucks can be backed and loaded at one time.
Opened in 24 November 1868, headed by the Lord Mayor of London with an extravagant backslapping ceremony for more than 1,000 guests, the market gained success immediately. Mainly operating every weekday from around 4a.m when the market is full of products to 8a.m when most of the business was done then sellers started to clean their stores. It is said that around 3,000 people were employed in the Market and a further six hundred porters for carrying meet out of the market to waiting vans and lorries for buyers. In addition, thousands of people who living in the surrounding area were working in the meat industry and approximately the market provided meat for at least eight million Londoners at that time. In a couple of years (1872) four more buildings were added but only the Poultry Market (opened on 1 December 1875) still exists till today.
However, during the Second World War, the market was closed and only used for storage or as an army butchers’ school. Then a bomb explosion caused some damage to the market but the majority remained unscathed and the original Poultry Market was destroyed by a fire in 1958 but it was replaced after that by a new building at a cost of £2 million which was designed by Sir Thomas Bennett in 1962 – 1963.
In 1984, the City Cooperation set up a Working Party to assess the future as well as examining options of closure, relocation and refurbishment but because of Smithfield’s convenience and important function for the West End trade, it remained the same and has been modernized on its existing site until now.
Smithfield Market: Today
Smithfield Market today is the largest wholesale market to have remained in Central London and not moved out of arguably the most expensive square mile of real estate in the world for cheaper land. Its working hours are between 3 am and 12 noon but the official website recommends visitors to arrive at 7am to see all the stalls in business. Therefore to see the market in a fully working state we arrived there in the early morning and saw a magnificent sight. There were different kinds meats from all across the world with butchers and restaurateurs from central London ordering meat according to their requirements.
The market has fifty or more stalls with varied meats such as lamb, pork, veal and poultry products such as chicken, turkey and duck[6][8]. Being the wholesale meat market of one of the largest and richest cities in the world these products have to be literally made to order according to the customers preferences (for a premium of course). Thus these are in varied states such as carcass, boxed meat, boneless, halal, organic, salted etc. Specific meat parts such as ribs, bellies, legs, and liver (pate)[8] are available, thus providing restaurants and shops all around Central London variety along with quantity and quality in their meat selections. So much so that the Market has meats available from all around the United Kingdom as well as a number of foreign countries which include Spain, France , Italy, Belgium, New Zealand,Australia and Brazil to name a few[6][8].. Various certified meats such as Angus and Wagyu are also available at the market[8].
As mentioned earlier the market has remained in its original place which is a 10 minute walk from the Barbican Tube station. But the property was modernized to large extent in the 1990’s as 75 million GBP was spent on making the Victorian property a part contemporary. The centuries old majestic edifice has been made into a modern business centre with the use of technology: refrigeration, lifts, forklifts and other equipment such as meat chopping machines to produce optimum results. The logistics of the market have also been greatly altered from the Victorian Period .The tunnels used to store live poultry and cattle in earlier days have been converted into logistical points where lorries pick up and drop meat. Some the other tunnels have been converted into parking areas, basements and storage rooms. This has greatly improved the markets sales, turnover, profits and also its sustainability for its future. The market is run like any other modern business organization. Even though a large part of the Victorian property is still a part of Smithfield certain parts are used for other purposes as well such as a city centre cogeneration power station and also a nightclub (named Fabric).
The market is also a tourist site[15] where people interested in the field or just general lovers of meat can come have a look at the functioning of the largest meat market in Europe. Visitors are provided with a protective coat and helmets and thus allowed to visit the trader stalls, take pictures of the place and talk to the staff of working at the market as well. Visitors may even buy certain special meats at the market price.
Recently the market has been subjected to a lot of controversies as well. Bring a prime property in the city of London there have been a number of redevelopment schemes which have arisen to make the grand structure a thing of the past. The most controversial of which came about a couple of years ago when Thornfield properties , a local developer along with the City of London waned to demolish the 19th century building and create 350,000 square feet of commercial space in a 7 story building. But this plan got plan got refused by the Communities Secretary Hazel Blair on the account that the existing buildings made “a significant contribution” to the character and the appearance of Barbican. A public enquiry was ordered and both sides have put forward their opinion on the matter where supporters claim that the development would help revive commercial activity in the area whereas the opposition believe that the demolishing the building would result in harming London’s heritage. More recently it has been revealed that the rent issues between the market tenants and the Corporation of London haven’t been resolved for a year or so. Even though no formal proposals have been received for redevelopment,the future of the market remains highly vulnerable as with economy getting better out of the recession the demand for commercial spaces will increase and diminish the chances of survival of the market.
Despite having an unclear future the market does provide a facility to London. Despite maintaining its market selling style Smithfield has largely changed various ways of functioning. Thus despite keeping its heritage the market has optimized its business. Today Smithfield is not only a place where meat is traded on a large scale but also a part of the city’s heritage and a tourist draw.
Smithfield Market: Tomorrow
There are some aims and objectives which Smithfield market is trying to achieve in the near future. Considering the product, Smithfield Market plans to increase the variety and amount of meat sold due to the increasing number of butchers, restaurants and shops which are located in the city. This will be done through finding and negotiating with new suppliers. Moreover the existing site of the market is going to be further modernized; more access points will be added where lories can be loaded and unloaded with the product.
In order to promote its product and attract more customers, Smithfield Market made its own website and continues to develop it. According to the Smithfield’s website, it will be divided into easy sections where it will explain to visitors how to buy the product, where to do it and more importantly how to negotiate with the traders.
As mentioned earlier, Smithfield Market has been facing a problem of demolition. Their owner, the City of London corporation, wants to demolish old side and build a seven-storey office block. However, the old buildings have been safeguarded to a certain extent and therefore the near future of the market is secure.
In 2009, Smithfield Food inc. carried out SWOT analysis, where it has stated, some of the future opportunities and threats. Which include opportunities such as, strategic merger with Campofrio Alimentacion, S.A., the largest processed meats company in Spain.Moreover there is a rise in demand for Organic Meat Products in the UK. Smithfield food inc, is also planning to increase meat for restaurant industry. On the other hand, there are some possible future threats for the company. It includes issues such as growing competitive market and slow down of the US economy (Smithfield market strongly depends on the US Market), furthermore the regulations on how to store and treat the meat are becoming more and stricter.
As it is published by Global Markets Direct, Smithfield market will become stronger in the future, because it is expanding market share in the sector widely, has strong liquidity position, strong Foothold in the Pork Market and therefore there are high growth prospects. However it must be considered that competitive market is growing as well, more importantly, there is a slowdown in World economy.
Smithfield Market has seen many changes and now it is continuing to shift and improve in every aspect. It meets the latest hygiene regulations which are necessary, it is also adapting to the recent and future changes in food fashion with the same efficiency and good service as it has shown in previous years.
References
Books
1. Borer, M. (1968) “England’s Markets – The Story of Britain’s Main Channels of Trade” - First published by Aberlard-Schuman Ltd., p.10-23. Available at Guildhall Library.
2. Forshaw, A. and Bergsrom, T. (1983) “The Markets of London” - Published by the Penguin Group, part 4, p.156 – 161. Available at Guildhall Library.
3. Maughan, C. 1931 “Markets Of London” - Published by Sir Isaac Pitman & Son Ltd., chapter XLI, p.145- 147. Available at Guildhall Library.
4.Wilson, E, 1845. Thoughts on The Established Church and The Puseyite Clergymen, the Voluntary System,-Maynooth Grant, Poor Law Act, The Nuisance of Smithfield Market, Dog Carts, and Game Laws, . 1st ed. London: Davidson Printer Serle`s Place, Carey Street London. Available at British Library.

Market Research Reports
5.Smithfield Foods, Inc. - Financial and Strategic Analysis Review, published by: Global Markets Direct (31.12.2009)
Interviews
6.Appendix 1 Staff At Smithfield Market. 2010. Interviews of Staff At Smithfield Market. Raghav Sethia. Verbal Conversation .Smithfield Market .2/11/2010 .
Newspapers (Nexis)
7.Vaughan, R., 2008. Smithfield Market buildings are saved as Hazel Blears blocks KPF scheme.... Daily News, 07 August 2008. N.A..
Websites
8.Smithfield Market. 2009. www.smithfieldmarket.com. [ONLINE] Available at:http://www.smithfieldmarket.com/content/traders. [Accessed 08 November 10].
9.Fred A'Court. 2010. http://www.meatinfo.co.uk. [ONLINE] Available at:http://www.meatinfo.co.uk/news/fullstory.php/aid/11134/Smithfield_Market_rent_talks_ongoing.html. [Accessed 08 November 10]
10.Smithfield Market. 2010. www.smithfieldmarket.com. [ONLINE] Available at: http://www.smithfieldmarket.com//content/news/smithfield-meat-traders-go-online [Accessed 08 November 10].
11.Anonymous. 2010. www.culture24.org.uk. [ONLINE] Available at: http://www.culture24.org.uk/history+%26+heritage/art59890. [Accessed 08 November 10].
12.Anonymous. 2010. www.derelictlondon.com. [ONLINE] Available at: http://www.derelictlondon.com. [Accessed 08 November 10].
13.Anonymous. 2010. www.marketresearch.com. [ONLINE] Available at: http://www.marketresearch.com/map/prod/2535011.html. [Accessed 08 November 10].
14.Anonymous. 2010. investors.smithfieldfoods.com. [ONLINE] Available at: http://investors.smithfieldfoods.com/releasedetail.cfm?releaseid=318898. [Accessed 08 November 10].
15. Smithfield Market. 2009. http://www.smithfieldmarket.com. [ONLINE] Available at: http://www.smithfieldmarket.com/content/visitor_information. [Accessed 08 November 10].

Appendix – Interviews of the Staff at the Market
To obtain first hand information we spoke to several staff working at the market. Since no one had the time (as we visited during working hours) to give a longer interview. Every person answered a couple of questions about the place.
1st Staff Member – Policeman at the administrative office
Q. Are Photographs allowed in the market?
A. Yes, but one has to wear helmets and protective Jackets.
Q. What are the working hours of the market?
A. It depends from stall to stall but I would say between 5am to 10 am is when most of them are open.
Q. Are there tunnels under this property (Read in Books such as Borer, M. (1968) “England’s Markets – The Story of Britain’s Main Channels of Trade”)?
A. Yes there are tunnels which are now used for logistics, parking, storage spaces and basements.
Q. Can we have access to these tunnels?
A. Yes through the lift in the building or through the parking across the road.
2nd Staff Member – Staff at Stall
Q. What kinds of meat have you sell at this stall?
A. We have meats in the form of carcass, boxed, minced or halal. We also have international meats which are imported from Australia, Belgium and South America.
Q. What kinds of machines do you use to prepare, handle and dispatch different kinds of meat?
A. We have various types of meat cutting machines to prepare different kinds of meat, refrigerators to increase the shelf life of the meat and forklifts to help transfer meat from one place to another.
Q. What kind of prices is meat sold here compared to the supermarket?
A. Meat here is sold between 50% – 60% cheaper compared to supermarkets. This is largely due to the high volumes. If one has to buy lesser quantities it would be approximately 10 %- 20% cheaper.

Appendix – Report on Team Working
At the beginning of this task Team S welcomed a new member: Vladislav. He could not be here for the previous task, so our team development temporarily went back to the stage of forming. The Belbin roles within the team did not change significantly, Vladislav tends to take the role of the team worker - investigator. As we were back to the first stage, to go forward once again we needed to go through brainstorming and defining responsibilities of the team members. This time more time was spent with `brainstorming`, as the different approach towards completing the task triggered conflicts. Members’ priorities in life played major part at the beginning, and caused difficulties, which we needed to, overcome or learn to tolerate. It was really hard to get everyone on time at one place, in this case to the Smithfield Market at seven in the morning. The first attempt failed, but the second time we managed it, and successfully completed the Derive part of the `mission`.
Planning of the Team Assignment started on the briefing lecture. It did not go well, as two of the team members were absent, one arrived very late and missed majority of the briefing. Due to this we did not use the planning form effectively. Annamaria and Thi could not allocate duty for the others without asking their opinion.
Delegating jobs within the group were done later mainly on voluntary basis; however some asked not to do certain task, such as the final editing or presenting, as they were not confident enough either in their English or public speaking. Fortunately we could cover one team member’s weakness with ones strength. Raghav might not be best in time keeping, on the other hand we saw in the previous project that the ideas he came up with worked well.
All of us were clear about parts that needed to be done in order to finish successfully the whole assignment. However dividing and organizing who is responsible for which part took long time. Numbers of emails were sent back and forth, couple of phone calls and text messages exchanged by the time it was clear to everyone how to complete their piece of work.
Motivating the team did not seem very important, as it was believed that seeking a high grade was enough motivation. However this theory failed. Members needed a bit of push, couple of encouraging words in order to make an effort to participate. We tried to be fair and did not get into a blame game &pointing fingers at each other for the mistakes we had done, the deadlines we had missed. However this is extremely tricky, when we have such diverse attitude towards challenges.
Leading the team would have been easier when every one responds to emails on regular basis. To pull together the project team members should communicate more & share information more frequently. On this area we need to improve as a team if we want to work efficiently in the future.
Throughout the planning we tried to match the skill set with the appropriate task for each member to be challenging enough, although it is still hard to say whether the team achieved `Flow` or simply struggled through to the completion of the assignment .
Coordinating and monitoring the process of our project happened via emails and meetings. We had decided to appoint each of team members to work individually on one part of the assignment. i.e. Luan would be responsible to complete the report on Derive, than after uploading on Wiki we could edit, re-write and finalize the report.
Unfortunately we had several difficulties within the team. These problems were mainly caused by delays and not showing enough commitment towards carrying out the assigned tasks on time. Furthermore probably the pressure and stress had a huge influence on the work. Feeling the weight and importance of this assignment made some of us more conscious and active, while others still did not seem to take part.
In order to function effectively in future, team members should really improve on communication, sharing information, and being more active. On the other hand Team S as group has great potential to work more successfully and complete projects on a high level. The Derive definitely made an improvement on our teamwork as we met in a less formal environment and needed to focus on things apart from report.