Hughes brought in ten new faces after securing the club's Premier League survival on the final day of last season, including a number of big names on reportedly lucrative contracts.
And Beard is adamant that the club's Malaysian owner Tony Fernandes is expecting a much improved performance on the pitch this year in return for his financial backing.
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"The investment has been made so that we feel we are a club which can compete against - and beat - every club we play.
"We all believe that the squad we have now should be able to get stability in the Premier League - not fighting for survival."
However, Beard was also quick to dismiss fears that the club has spent excessively, pointing to the fact that many of the high earners were brought in on free transfers or loan deals.
He said: "Some clubs have spent £12million or £15million on one player. You would struggle to get that sort of number for all the players we have signed.
"What we have done is strike a balance. I have looked at it long and hard, and there are some very talented young players we have brought to the club who I think will be available for a long time to come."
The chief executive also defended Hughes's decision to bring in Brazilian goalkeeper Julio Cesar on a hefty contract from Inter Milan just two months after signing England international Rob Green.
"The club now has two very strong goalkeepers, and Mark will decide which one plays when," he said.
"It wasn't something in his mind, that Julio Cesar could come to the club a very sensible way, and we decided to take that opportunity. The best teams have strength in every position."