Morgan admitted that the club has problems but refuses to place the blame on the manager.
"You don't get stability by chopping and changing your manager all the time. I like to think Wolves do things our way – and our way is about long-term growth and stability," Morgan told BBC Sport.
"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."
Wolves will attempt to move away from the relegation zone when they travel to Tottenham Hotspur on Saturday afternoon.