Heat olive oil in a large pot and cook minced onion over medium heat until it becomes translucent, about 2-3 minutes.
Stir in the pancetta, fresh rosemary, and garlic, and sauté for another 2-3 minutes until fragrant.
Coat the beef chunks lightly with flour and add them to the pot; cook on low heat for around 5-8 minutes, turning regularly to brown the meat evenly without burning.
Combine the potatoes, tomato paste, oregano, pepper or hot pepper flakes, and broth (or water with bouillon cube) into the pot.
Cover and simmer gently over low heat for about one hour, until the potatoes are tender and the stew has thickened.
Adjust seasoning by tasting before adding salt, since the broth or bouillon may already contain enough salt.
Serve warm and enjoy a hearty, flavorful Italian stew.