By Dan Roan BBC sports news correspondent
Liverpool chairman Tom Werner insists Kenny Dalglish will be given funds to strengthen the squad at Anfield.
Dalglish has taken charge for the rest of the season at Anfield following the sacking of Roy Hodgson this month.
"I would we devastated if we didn't see some improvement," Werner told BBC Sport. "We've identified some targets and hope we will be successful.
"I expect progress, we've resources to improve, we're not driven by spending, but our team needs to get younger."
The appointment of Anfield legend Dalglish, who made 355 appearances for the club and managed the team from 1985-1991, was hugely popular with the Liverpool fans, who had become disillusioned with Hodgson.
Dalglish took charge with the Reds in 12th place in the Premier League, and began his new spell with a 1-0 defeat at Manchester United in an FA Cup third-round tie.
A 2-1 league defeat at Blackpool in the league followed, before the new manager picked up his first point with a 2-2 draw in the Merseyside derby with Everton at Anfield.
The team currently lie 13th, only four points above the relegation zone, but are only four points behind Bolton in seventh with a Europa League round of 32 tie against Sparta Prague in prospect next month.
Werner said: "We feel very confident we're making progress. There's not an overnight success, our squad has been inconsistent and we expect to improve it short term.
"Kenny's got many of the qualities we've looked for in a manager, he has the confidence of the players and we'll start to see better results."
Hodgson, who previously managed Blackburn and Fulham in the Premier League, was dismissed after less than six months at the Liverpool helm having won only seven of 20 league matches.
Werner said: "He may not have been the right man for Liverpool at this time.
"We felt we needed to change. We handled it with dignity, I think quite highly of him and we all take some responsibility for what has been an inconsistent season."
Attendances at Anfield dropped significantly towards the end of Hodgson's reign and Werner added: "We were aware of the fans point of view - in a perfect world we wouldn't have had to make the change but we're in a results business."
http://news.bbc.co.uk/sport1/hi/football/teams/l/liverpool/9367115.stm