Network switch
The device that connects wired equipment within a site and forwards traffic between them.
Unmanaged switches simply pass traffic. Managed switches support VLANs, port security, monitoring, and power over Ethernet, which is what makes segmentation and troubleshooting possible.
Managed hardware is worth the difference in any environment with more than a handful of devices, because an unmanaged network is one you cannot see into when something breaks.
Where this comes up
Network switch sits inside our networks and infrastructure work. If you are trying to work out what this means for your own environment rather than in the abstract, that is the page worth reading next, and a short call will get you a straight answer faster than either.