The paper examines how external stakeholders conceptualise university social responsibility (USR) and their perceptions about how universities implement USR in practice. A total of 18 external stakeholders from eight universities were interviewed. The results indicated that there was no shared and common conceptualization of USR and that USR was recurrently related to the areas of teaching, research, or community engagement, revealing an omission of management, governance, and campus life. This study contributes to the body of knowledge on USR by shedding light on the perspective of actors that are not sufficiently addressed in the literature, that is, those of external stakeholders. We argue for a revisited USR based on a reflective debate on the potential role of external stakeholders in helping higher education institutions address societal needs. The study informs practical applications that policymakers can use to advance their social impact and reduce the gap between USR policy and practice.