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Harry Redknapp will remain as QPR manager after chairman Tony Fernandes moved to rubbish reports he was set to sack the 67-year-old.
There had been speculation last week that Redknapp was close to losing his job, with the R's down in 19th place in the Barclays Premier League and without a win in six games in all competitions.
Manchester United won 2-0 at Loftus Road on Saturday to leave QPR in the relegation zone but Fernandes issued a statement backing Redknapp.
"I firmly believe Harry is the best man to get us out of the position we currently find ourselves in," the statement read.
"He has great experience and having spoken to him at length over the last week or so, he is determined to turn this around and help us maintain our Premier League status.
"This is Harry's squad of players, so he is the man to move us forward."
Redknapp took over at Loftus Road in November 2012 but was unable to steer QPR to safety - although he did guide them straight back into the Premier League through the play-offs last season.
With the club back in the top flight, Redknapp was backed by Fernandes in the transfer market with large sums paid for Steven Caulker, Leroy Fer and Sandro.
They joined the likes of Jordon Mutch and former England captain Rio Ferdinand in a strong-looking QPR squad - but they have struggled for results and form this season.
All 10 away league games have ended in defeat but 19 points accrued at home mean Redknapp's side are just one point behind Burnley in 17th spot and Fernandes is happy to support his manager for the time being.
"The performance against Manchester United showed the players are behind him and that they have the stomach for the fight," Fernandes added.
"We know we need to improve our away form and Harry, his coaching staff and the squad will be doing all they can to turn around our fortunes on our travels.
"It's very tight in the table and we will do our best to strengthen where we can to give us the best possible chance. The fans have been brilliant all season and all I ask is that they continue to back Harry and the team."
When questioned about his future last week, Redknapp said he was being targeted by someone within the club who was looking to see him ousted from his position.
The former Tottenham boss also insists he can only shop in the loan market during the January transfer window and has already signed Mauro Zarate until the end of the season from London rivals West Ham - although he did admit he is still looking for another striker to lighten the load on 13-goal man Charlie Austin.