Cook the bacon with 2 tablespoons vegetable oil in a large Dutch oven over medium-high heat, stirring occasionally, until crisp, about 5 minutes. Add the onion and cook, stirring occasionally, until softened, about 3 minutes. Add the cabbage, vinegar and sugar. Stir in the chicken broth, 3/4 teaspoon salt and a few grinds of pepper and bring to a boil. Reduce the heat to a steady simmer, cover and cook, stirring occasionally, until tender and slightly saucy, about 15 minutes.
Meanwhile, put each piece of steak between 2 sheets of plastic wrap and pound with the flat side of a meat mallet or heavy skillet until about ½ inch thick. Season generously with salt and pepper, then sprinkle all over with the paprika and garlic powder.
Heat the remaining 2 tablespoons vegetable oil in a large skillet over medium-high heat. Add the steak and cook until browned, about 3 minutes per side for medium rare. Transfer to a cutting board to rest 10 minutes, then slice.
Stir the parsley into the cabbage mixture and season with salt and pepper. Serve with the steak.