Jez Moxey admits to being 'extremely disappointed' at Wolves' plight, but has called for a sense of perspective in their bid to beat the drop.
The Molineux chief executive saw his side suffer a crushing 5-0 defeat to league leaders Manchester United on Sunday to slip to the foot of the table.
Wolves, who recently took the decision to part with manager Mick McCarthy and replace him with his assistant Terry Connor, now have just nine games in which to haul themselves out of the drop zone.
Moxey believes that is more than enough time for a successful survival bid to be staged and insists the long-term goals of the club will not be 'damaged' by a turbulent few weeks.
He said: "In footballing terms we are, of course, extremely disappointed to be in the bottom three. We recognise that on the field results are the most important measure for any club.
"We are not happy with the current onfield situation, far from it, but we should put things into some sort of perspective.
"We shouldn't forget Wolves went through a period of spending just one season in the top division in 25 years.
"We are currently in our third consecutive season in the Premier League and still with every chance of going on to win our survival battle and make it four seasons."
Moxey added: "We remain optimistic, in the medium term at least, of maintaining the upward progress the club has enjoyed over the last six years or so. Off the field, we are in a strong position.
"We have a chairman in Steve Morgan whose passion and enthusiasm for Wolves is matched by his desire to make the club successful.
"We will not allow years of hard work put in by everyone to improve the club and achieve some long-awaited stability in the Premier League to be damaged by a few difficult and challenging weeks."