Heat the olive oil in a large dutch oven over high heat. Season the beef with the salt and pepper. Brown the cubed beef in two batches so that the pot doesn't become over crowded. If it is, the beef will steam instead of brown. No good. Remove each batch to a plate with a slotted spoon. Once all of the beef is browned, drain the excess grease out of the pot and add the potatoes, carrots, parsnips, onion and garlic. Let them get fragrant and soften for a couple of minutes before stirring in the tomato paste and flour. Allow the tomato paste and flour to cook for a minute, then deglaze the pot with the red wine. While the red wine starts to bubble and reduce, stir in the dash of Worcestershire sauce.