Wanderers had a miserable run of five defeats in six games in all competitions and dropped into the bottom three.
A loss to Wolves was the low point and spurred skipper Davies into organising a get together.
The long-serving striker said: "After the defeat at Wolves, I sensed a massive change.
"I had a meeting with the boys and said we're the ones that got us into this position so we're the ones who will get us out of it.
"We had to stand up and be responsible for where we are. A few of us realise that now and I think it has shown in the last two performances."
Bolton took four points from a possible six with much-improved displays against Manchester City and West Ham this week.
And Davies added: "It feels good around the camp now. Now we can really crack on."