An individual component participating in a complex operation spanning multiple steps indeed knows nothing about the grand scheme of things. But there will be one event consumer component specifically charged with following the progress of this distributed transaction (aka saga pattern).
A few comments point out that replacing a monolith with micro services doesn't reduce complexity. I agree 100%.
That's why I mentioned Event Sourcing pattern, not "microservices". Think of a single event log as a source of truth where all the data goes, and many consumer processes working in parallel alongside, picking only those events (and the embedded data) that concern them, reacting to them, then passing it on not knowing what happens later. Low coupled small self-sufficient components that you can keep on adding one next to another, without increasing the complexity of the overall system.
Maybe Event Sourcing/CQRS can be called "microservices done right", but that's definitely not those microservices (micro-monoliths?) everyone is talking about.
Monolith is fine if you have a fairly simple process for manipulating your data. Like posting an article, then a comment, with some moderation thrown in.
But when you start adding business rules, and start transforming your data and moving it around, then your monolith will become too complex and often too expensive to run. Lots of moving parts tightly coupled together, long-running transaction wrapping multiple joined tables etc. Rolling out new features will become very challenging as well.
Something like event sourcing is more complex to set upfront than a monolith, but at least it offers the way to add scale and features later without creating a combinatorial explosion...