Clarke was relieved of his duties following a run of poor performances, with the Scotsman having served as head coach at the club since June 2012.
"We are in one of those runs we are finding it difficult to get out of, but with the squad we've got, and the experience and the quality we have in the dressing room, we are more than confident we can get out of it," Reid told Match of the Day 2 Extra.
"If the manager goes, you look at yourself and whether you could have done any more as a squad? The first person you have got to look at is yourself and not the manager."
Reid has made four appearances for the Baggies so far this term.