How to adapt the strategy and decision making according to current imbalances in a game

These are the imbalances mentioned by J. Silman:

1. Superior minor pieces (The interplay between Bishops and Knights)
2. Pawn structure (doubled pawns, isolated pawns, etc)
3. Space (The annexation of territory on a chessboard)
4. Material (Owning pieces of greater value than the opponent’s)
5. Control of a key file/hole/weak square (Files and diagonals act as pathways for your pieces, Squares acts as homes)
6. Lead in development (More force in a specific area of the board)
7. Initiative (Pushing my agenda, dictating the tempo)

Once one of those balances can be identified in a game, is there any general strategy that can be applied for each and every one of those imbalances that can guide my play? 

These are the ones i have some sort of understanding about:

• Imbalance 4: If there is a material imbalance, then the general strategy is to trade pieces if you are ahead in material and avoid trading if you are behind. 
• Imbalance 1: If the position is open, bishops are generally better than knights and if the position is closed, knights are generally better.
• Imbalance 1: If your bishop has the same color as your pawn chain, it has limited mobility and is considered bad. Therefore it can be traded for the opponents "good" bishop and vice versa.

Can you help me cover the rest of the imbalances?

Amateur's Mind by Jeremy Silman
https://web.archive.org/web/20140708094419/http://www.chesscafe.com/text/ammind.pdf
How to Reassess Your Chess (4th ed.) by Jeremy Silman
https://web.archive.org/web/20140708095832/http://www.chesscafe.com/text/review769.pdf

Kindaspongey: Yes, i have heard about those books. They are huge and are aimed for more advanced players (specially how to reassess your chess). I'll probably get amateurs mind eventually.

I was hoping that something general could be said about those imbalances with a few sentences, like for the material imbalance.

I now the imbalances, so I can tell you something about them.

1. Superior minor pieces. Which minor pieces are better placed? Do the knight have an outpost? (a square which is protected by an own pawn in the opponent's position). Do the bishops have nice diagonals to move? Bishops are usually strong in open positions where they do have pawns blocking them. Bishops are fast, able to go from one corner of the board to another, while knights are very slow. Knights are usually superior to bishops in closed positions.
2. Pawn structures. This imbalance is not only related to pawn structures, but everything related to pawns, like weak pawns (for example isolated pawns in an open file where they can be attacked by rooks and queen), passed pawns, etc. The side with better pawn structures will have advantage in endgames. The less pawn islands, the better. 
3. Space advantage. Who have more space and where in the board? Space in the centre is important and make it easier for the side with more space to move the figures. Often you can attack on the side of the board where you have more space.
4. Material. If material is even or not.
5. Lead in development. Who has a lead in development? Usually the side with a lead in development try to take advantage of it before the other side finish the development of the own figures. Castle has to be regarded as development (bringing the king away from the centrer and allowing the rooks to connect).
6. Initiative. The side which can push the own agenda. 
7. King's safety.
8. The fight for key files. For example, when rooks dominate an important file or a bishop dominating a certain diagonal.
9. The fight for key squares. For example, the square in front of a passed pawn, or a hole in the position (a square which can be used by a knight in the fourth or fifth rank).
10. Dynamic / static factors. For example, a side having an isolated pawn can perhaps use it to attack (dynamic factor), but the same pawn can be a problem in the endgame (static factor).

Chess players will try to understand these factors to be able to plan their games, or at least to plan mini-operations (for example, spotting a hole in the enemy's position and planing to bring a knight to this square, or spotting a weak pawn in an open line and bringing the pieces to positions to attack this pawn). Beginners are more or less fully occupied not to blunder pieces. Better players cannot only rely on not making blunders or on opponent's blunders - they have to have rely on plans to improve the position or to prevent the opponent to improve the own position.

Thank you for a great elaboration torrubirubi!