Toto Wolff concedes his "neck is on the line" if Mercedes fail to improve under his watch.
Earlier this year, Wolff joined Mercedes as the German manufacturer's new motorsport boss, a move that included the Austrian buying shares in the Formula One team.
"As they (Mercedes) know I have put my neck on the line they know that I have no room for failure," Wolff told the official Formula 1 website.
"Not only have I taken a personal risk by leaving Williams - where I have enjoyed working - but there is also a financial and economic side to it. There is a huge amount of trust on both sides and I am very happy having joined."
Last season Mercedes secured just one race victory before plummeting to fifth in the Constructors' Championship.
Pressed as to what is on his 'to-do list' for this season, the 41-year-old insists he first wants to get a feel for the team before making any changes.
"I could say as much as I like that I had no involvement in the 2013 car - which is actually the truth in terms of car performance - but that doesn't count.
"I have been here for two weeks but nobody cares whether I've been here one year or one week.
"I have taken up the responsibility so it is important to get a feeling for the people, and I have a good feeling for most of them. If it is not going in the direction I want, I will implement the structure that I think will work."
He added: "Power is not the issue - understanding the structure and making the right decisions is the core.
"I don't right now, but I am there to represent Mercedes, I am there as a shareholder and I will do everything it needs to make this team successful. First it is watch and listen, and then I will give my opinion and execute my opinion."
As for his goals for this season, Wolff wants the team "in the top four and is a regular frontrunner."