Season the beef with salt, pepper, onion powder, garlic powder, paprika, & Worcestershire sauce. Toss with flour until evenly coated.
Heat olive oil in a Dutch oven over medium heat. Sear beef in batches until browned on all sides. Transfer to a plate and set aside.
In the same pot, add onions, celery, garlic and balsamic vinegar. Cook 5–6 minutes, stirring occasionally, until softened. Add tomato paste, cook 1 minute.
Pour in red wine and scrape up any browned bits from the bottom of the pot. Let it simmer 2–3 minutes to reduce slightly.
Return beef (and juices) to the pot. Add beef broth, beef bouillon, bay leaves, rosemary, and thyme. Stir to combine. Cover, reduce heat to low and simmer for 1 1/2- 2 hrs or until beef is tender.
Add the potatoes and carrots. Let it simmer for another 35 minutes, or until the potatoes are soft.
Remove bay leaves and herb sprigs. Taste and adjust seasoning as needed. (Make a corn starch slurry to thicken stew if it’s too watery. 1 tbsp cornstarch/ 1 tbsp water mixed together)
Garnish with parsley and serve!