Sauté the mushrooms in a pan with oil or butter until they loose their fluids.
In a heavy based oven proof pot or dutch oven, sauté the beef over high heat with a bit of oil. The beef should brown on the outside, but doesn't need to cook on the inside. If needed, sauté the beef in parts. Don't crowd the pot with all the beef as it will lower the pot's temperature.
Take the beef out of the pot and lower the heat. Add the butter and sauté the garlic for 1-2 mins until the fragrance turns from spicy to sweet, don't let it brown.
Add the flour and stir until homogenous. Let it brown a bit for another minute or two, but don't let it burn.
Pour the wine slowly while stirring to avoid creating clumps.
Add the carrots, potatoes, beef, mushrooms, tomato concentrate, soy sauce, chicken stock powder and pepper.
Add just enough boiling water to cover all the ingredients.
Cover and put in an oven preheated to 180°C (360° F). Let it cook for 3-4 hours.
Take the stew out of the oven and pour it to another pot through a strainer. Return the solids back to the original pot.
Boil the liquids and evaporate it until it achieves thick consistency. Alterantively, if short on time add 1-2 tsp of corn starch - combine the corn starch with room temperature water in a cup and add slowly while stirring to the pot.
When the sauce reached the desired consistency pour it back to the original pot, combine and bring to a boil.