The League Two Magpies have been in the headlines this week for their shock appointment of ex-England coach Sven-Goran Eriksson as director of football.
However, Davies is determined his side can make news of their own by becoming a Premier League club come the end of the season.
"Sven's appointment is something that has raised a lot of eyebrows in football that's for sure. But it has to be good news for the city," Davies told the Nottingham Evening Post.
"What we have to do is make sure we are the ones who are moving in the right direction.
"Our intention is to make sure we are equipped to challenge in the Championship this season, in what is a very difficult division."