An IMBALANCE in chess is any difference in two respective positions. The correct way to play chess is to create an imbalance and try to build a situation in which it is favorable for you. An actual checkmate will follow once your opponent is helpless. An imbalance is not necesarily an advantage. It is simply a difference. It is the player's responsibility to turn that difference into an advantage.

List of Imbalances:

Superior Minor Piece - The interplay between Bishops and Knights(trying to make one superior to the other)
Pawn Structure - a broad subject that encompasses doubled pawns, backward pawns, isolated pawns, passed pawns, etc.
Space - the annexation of territory on a chessboard.
Material - owning pieces of greater value than the opponents.
Control of a key file or square - files, ranks, and diagonals act as pathways for your pieces, while squares act as homes. Whole plans can center around the domination of a file, or the creation of a weak square in the enemy camp.
Development - a lead in development gives you more force in a specific area of the board This is a temporary imbalance because the oponnent will eventually catch up.
Initiative - dictating the tempo of a game. This can also turn out to be a temporary imbalance.

If one side owns a Bishop while the other has a Knight, that's an important imbalance. If one side has the superior pawn structure while the opponent owns more space, then that, too, is an imbalance. you must always try and make your imbalance beat the opponent's! Whole plans can and should be created around this idea. In fact, these plans can often be found with little or no calculation.

If you have any questions, feel free to leave a comment below.

TheChessCorner