In a shallow dish, combine flour, basil and pepper. Dredge the meat in the flour mixture. Shake off excess flour, then brown the meat in the oil.
When the meat is cooked, transfer it over to a large stockpot. Set aside.
In the same frying pan that was used to cook the meat, if needed, add 1 tbsp olive oil, and cook chopped onions, carrots, celery and garlic. Cook until softened, then add to stockpot with the meat.
Turn the heat under the stock pot on to med-high, and add the consomme, Worcestershire sauce and bay leaves. Bring to a boil, then turn down to low-med heat, cover with a lid, and cook for about 1 hour.
After the 1 hour cooking time, add the big chunks of carrots, celery and parsnips.
Simmer for 30-45 minutes more, or until the meat is tender and the veggies are cooked.
If the gravy is not thick enough, add 1-2 tbsp kneaded butter. Kneaded butter is equal parts flour and butter, mixed into a paste. This is a trick I learned from the Joy of Cooking. Don’t add too much or your gravy will taste flour-y (is that even a word?!).