Trim fat from meat. Cut meat into 1/2-inch pieces. Sprinkle meat with 1/4 teaspoon of the salt and 1/4 teaspoon of the black pepper. In a 4-quart Dutch oven, brown beef, one-third at a time, in hot oil. (Add more oil during cooking, if necessary.) Remove beef from Dutch oven.
Add the 4 chopped onions to Dutch oven; cook over medium-high heat about 5 minutes or until tender. Stir in chili powder, cornmeal, garlic, cumin, oregano, and cayenne pepper; cook for 30 seconds.
Stir in browned beef, beef broth, the water, brown sugar, and remaining 1/4 teaspoon salt and 1/4 teaspoon pepper. Bring to boiling; reduce heat. Cover; simmer for 1-1/2 to 2 hours or until meat is tender. If desired, top each serving with additional chopped onion.