At the very core of any short story lies its plot, the carefully orchestrated sequence of interconnected events that drive the narrative forward from beginning to end. A well-structured plot is often conceived as a dramatic arc, typically adhering to a conventional progression. It commences with the exposition, which serves as the foundational phase, introducing the reader to the story's initial world. Here, the primary setting – encompassing time, place, and the prevailing atmosphere – is established.

Following the exposition, the story enters the rising action, a dynamic phase marked by the introduction and gradual intensification of the central conflict. During this period, characters encounter a series of complications, face escalating obstacles, make pivotal choices, and navigate challenges that progressively heighten tension and build suspense.

This peak is the climax, the absolute turning point of the story, representing the moment of highest dramatic tension or emotional intensity. It is the moment where the central conflict comes to its head, where the protagonist often confronts their greatest challenge or makes a crucial decision, and from which there is no return to the story's initial state. The events that follow the climax constitute the falling action. Here, the immediate consequences and ramifications of the climax begin to unravel, the tension gradually subsides, and the narrative moves towards its conclusion.

Finally, the plot culminates in the resolution, also known as the denouement. In this concluding phase, the central conflict is resolved, either fully or partially, and any remaining loose ends of the plot are tied up, bringing a sense of closure or a specific finality to the narrative.

Integral to the plot are the characters, the individuals (or sometimes anthropomorphic entities) who populate the story and are the agents of its actions. Characterization refers to the comprehensive process through which an author reveals and develops a character's personality, motivations, and moral qualities.

Characters themselves can be broadly classified by their complexity and their capacity for change. A flat character is typically uncomplicated, possessing only one or two dominant personality traits, and generally does not undergo significant internal transformation throughout the story; they often serve a specific function within the narrative. In stark contrast, a round character is multifaceted and complex, exhibiting a range of traits, motivations, and sometimes even contradictions, mirroring the intricate nature of real individuals.

The setting is another indispensable element, encompassing much more than just the physical location and historical period of the story. It includes the prevailing atmosphere or mood, the social and cultural conditions, the economic environment, and even the specific time of day, season, or weather.

The dynamic interplay between characters and their setting often gives rise to the conflict, the fundamental struggle between opposing forces that propels the narrative. Conflict can be internal, where a character grapples with an internal dilemma, fear, or desire (e.g., character vs. self, a struggle within one's own mind). Alternatively, conflict can be external, involving a struggle between a character and an outside force (e.g., character vs. character, character vs. nature, character vs. society, character vs. fate or destiny, or character vs. technology).

The distinctive lens through which a story is narrated is its narrative point of view. This refers to the perspective from which the story is told, profoundly influencing what information the reader receives and how it is perceived.

Authors consciously employ a diverse array of literary techniques to enrich their narratives, deepen thematic resonance, and shape the reader's experience. Foreshadowing involves the subtle or overt hinting at future events or developments within the story.