The Wolves owner, Steve Morgan, has given his backing to Mick McCarthy despite the club being involved in another relegation battle, but insists his comments do not amount to a vote of confidence.
Neil Warnock was sacked as manager of fellow strugglers QPR on Sunday, while the Blackburn manager, Steve Kean, has come in for constant abuse from his club's supporters.
Morgan described Wolves's league position as "unacceptable" but said when asked about Warnock's dismissal: "It's not for me to comment on other clubs. All I can do is comment on Wolves and we do not have a hire-and-fire mentality.
"Of course, we have problems but our philosophy is to work through the problems. This club is about stability and approaching things in a very business-like sense.
"The message is finally dropping with people that this is a club about stability. You don't get stability by chopping and changing your manager all the time. You have to work things through.
"I'd like to think football thinks Wolves do things our way – and our way is about long-term growth, stability and strength. You get strength from teamwork."
However, Morgan denied that his comments represent the sort of vote of confidence which traditionally spells trouble for football managers.
"I've never commented on the manager's job in four and a half years I've been at the club and I'm not going to start now. That is part of the stability if you like, that you never get the dreaded endorsements and the 'votes of confidence'. I never gave it when we won the Championship so it's not a case of doing it in good times or bad times. It's never."
He admitted, though, he was unhappy with the team's form.
"There is no point hiding. Like my old school report used to say, we could do better. It's been disappointing. We expected to be better off than we currently are.
"We have to do better in the second half of the season. There is no question about it. We all share the disappointment that our fans share with our current points tally and league position."