Begin by heating a tablespoon of olive oil in a large Dutch oven or heavy-bottomed pot over medium heat. Add the diced bacon and cook until crispy. Use a slotted spoon to remove the bacon and set aside and leave the extracted fat in the pot.
In the same pot, add the beef cubes in batches and brown them on all sides. Take out beef from the pot and set it aside.
Add the chopped onion, carrots, and minced garlic to the pot and sauté until they are softened and lightly browned.
Add again beef and bacon to the pot. Sprinkle the flour over the mixture and stir well to coat everything evenly.
Pour in the red wine, beef broth, and add the tomato paste. Stir to combine all the ingredients.
Add the bouquet garni and season with salt and pepper to taste. After boiling the mixture, reduce the heat to low and cover the pot.
Allow the beef bourguignon to simmer gently for about 2.5 to 3 hours, or until the meat becomes tender and the flavors meld together. Stir occasionally and adjust the seasoning if necessary.
Once the beef is tender, remove the bouquet garni. Taste and adjust the seasoning if needed.
Serve the Michelin star beef bourguignon hot in individual plates or bowls, garnished with fresh parsley. This dish pairs perfectly with crusty bread, mashed potatoes, or buttered noodles.