Rangers chairman David Murray has offered his full support to under-fire manager Paul Le Guen.
"I will evaluate the situation at the end of the season, but I do not see any need to panic," Murray said.
"It is not in my mind to change anything and I hope it is not in Paul's mind either.
"Domestically, results have not been acceptable, but I believe we can turn the corner and improve. Paul is here for the long-term."
Rangers are already 15 points behind holders Celtic in the Scottish Premier League.
And Wednesday's CIS Insurance Cup exit at home to First Division St Johnstone was one of the worst in Rangers' history and resulted in a protest by about 300 fans at Ibrox.
"More than ever, I am happy to be here and I am ready to fight on"Murray had kept his own counsel about the results until joining Le Guen in addressing first-team players on Friday.
The chairman, who had tracked the former Lyon coach for some time before making the summer appointment, and the Frenchman went on to attend a news conference.
"At the start of the season, 18 out of 24 journalists tipped Rangers to win the league and it was widely acknowledged that Paul was a great appointment," said Murray.
"And I have no reason to change my mind about that.
"There have been voices of discontent, but it only makes Paul and I more determined.
"Anyone who knows my track record as a chairman and a businessman knows that I do not make quick decisions.
"I do not make changes after 10 weeks."
Le Guen maintains that he is ready to carry on the battle to turn around Rangers' fortunes.
"I have no regrets," he said. "More than ever, I am happy to be here and I am ready to fight on."
Rangers captain Barry Ferguson had on Thursday insisted that everyone at the club must shoulder the responsibility.
MY SPORT: DEBATE
"We had some angry fans outside the ground demonstrating and I have to say that, while I understand their frustration, I can't see why the chairman David Murray is being slaughtered.
"Over 18 years, he has done wonders for Rangers and the harsh truth is we are now at a stage where we can't buy our way out of trouble.
"The finances aren't there now and everyone knows that."
The Rangers Supporters' Trust has urged David Murray to dig deep and bail their club out of trouble.
Trust spokesman Stephen Smith said: "Our view is that a £3m net spend in the summer was never going to be enough to close the gap on a Celtic team who have added Thomas Gravesen and Jan Vennegoor of Hesselink to their squad.
"Some of the manager's signings have not been up the standard required at Rangers, but he hasn't really had enough funding."