Statement I correctly defines stakeholder management in the context of Enterprise Risk Management (ERM). It involves sharing and communicating information regarding the firm's risk management policies, exposures, and processes to external stakeholders such as investors, rating agencies, and regulators. Statement II inappropriately defines "Data, technology, and resources". In ERM, this element refers to the technological infrastructure, data quality, and human resources required to support the risk management framework (e.g., risk IT systems, risk data aggregation), not the general activities related to the production of products and services of the firm.