Season the round steak with salt and pepper. Dredge each piece in flour, shaking off excess.
Heat oil in a large skillet over medium-high heat. Brown the steak on both sides, then remove from the skillet.
Add sliced onions to the skillet and cook until softened.
Pour in beef broth, Worcestershire sauce, and garlic powder. Stir well.
Return the steak to the skillet, cover, and let it simmer on low heat for 1.5 to 2 hours until tender.
Serve hot with mashed potatoes or rice, drizzled with the rich gravy.