Set your oven to 325 degrees Fahrenheit to warm up as you prepare.
Season the beef chunks evenly with salt and pepper then coat them lightly in flour.
Heat butter and canola oil in a large Dutch oven over medium heat and brown the beef thoroughly in batches, about 3 to 4 minutes each.
After removing the last batch of beef, sauté the onions, garlic, and carrots in the pot for 2 to 3 minutes until they begin to caramelize.
Add potatoes, corn, beef broth, tomato paste, bay leaf, thyme, and Worcestershire sauce to the pot; stir everything together well.
Return the browned beef to the pot, cover it tightly, and place it in the oven to cook slowly for two and a half hours.
About thirty minutes before the end of cooking, stir in the green beans and frozen peas and let them cook until tender.
Once done, take out the bay leaf and serve the stew warm.