Distributed applications can be created using component-based software development. Such applications are defined as an assembly of components requiring services from and providing services to each other. The existing component models provide a description of functional and non-functional requirements of an application. However, this capability is to be determined at the design time of the application. Once deployed, the application cannot be modified to respond to the changing context. In order to allow creation of such applications that can be transformed dynamically to respond to changing environments, in this article we propose a framework that allows monitoring and dynamic reconfiguration of different components. These components may be functional components of the user application or other components of the environment on which an application depends. The components of environment may represent the underlying environment (i.e., hardware and network entities) and are presented in our framework in the same way as the application components. A component can monitor other components in order to be aware of their changes. Moreover, the components can also be monitored and reconfigured remotely. If a component is not monitorable or reconfigurable by default, we propose a procedure that transforms it to respond to components requests