They have returned to the competition in solid form and sit in third place after nine rounds of action, but back-to-back European defeats to Leicester Tigers have slowed the momentum.
However, Foley insists re-building is not at the top of Munster's agenda this season.
"We are never in transition," he said. "With a club like this you have to stay at the peak. We have an expectation among us to stay at the top and we are fighting to stay up there."
Munster return to GUINNESS PRO12 action at home to rivals Leinster on Sunday, off the back of a 17-6 defeat at Leicester.
Ian Keatley struck two penalties at Welford Road but, ultimately, they fell short and Foley believes a lack of killer instinct was to blame.
"We made hard work of it in their 22, we did not stay patient and did not score enough," he added.
"We turned the ball over way too softly and with clear-cut opportunities we threw forward passes or got turned over.
"All those are massive turning points in the game and they take the momentum away from you.
"Part of me is so proud of the boys in terms of how they played and how they created those opportunities but the other half is disappointed that we were not clinical enough, we were not ruthless enough.
"I have been fortunate to come here and win a couple of times and you have got to be lucky enough to get those opportunities and you have got to capitalise on them and the boys did not finish them. That is probably the pain we will feel."
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