Difference between managed entitlements and entitlements

Hi Team, Can you suggest me the difference between managed entitlements and entitlements. Thanks.

An IdentityEntitlement is an object that represents an entitlement that is associated with an identity.
It means the identity actually holds the access/permission on the target application.
These objects are created by running account aggregation and identity refresh tasks.

A ManagedAttribute is an object that represents an entitlement that lives in the Entitlement Catalog and can be requested by users.
These objects are created by running account or group aggregation and identity refresh tasks with the “Promote additional entitlements” option.

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