Malthouse arrived at Carlton amid much fanfare and expectations that he would immediately lead the Blues back into the finals and potentially push for higher honours.
With five rounds left Carlton sits ninth, just a game behind eight-placed Port Adelaide, and boasts a healthier percentage than the Power.
After losing four successive games against top-eight sides, the Blues have regrouped and placed themselves back in the frame for a finals berth by winning their past three games.
A tough encounter with top-four hopeful Fremantle at Etihad Stadium on Saturday night looms as a season-defining encounter, and one that could help determine the Blues' destiny.
But Tuohy doesn’t think it would be a "huge setback" to Malthouse's reputation if the Blues missed the finals.
"Mick's in his first year of coaching the club. Not many coaches come straight in and get success; there is a time of adjustment," he told reporters at St Kilda Sea Baths on Tuesday morning.
"You can’t question Mick's coaching criteria and the kind of man he is.
“He's been really good for the club and we're definitely heading in the right direction. Just because we've (had) a couple of hiccups this year, I think it's a bit unfair to write him off straight away."
If the Blues finish ninth there is a possibility they could still make the finals by default, should Essendon have its premiership points removed as a result of the investigation into the club's 2012 supplements program.
But this prospect isn’t high on Tuohy's agenda.
"We're not even thinking about that. We need to finish in the top eight … to make finals, and that's what we're focusing on. We're not trying to finish ninth and crossing our fingers," he said.
Success against Freo would give the Blues their first win against a team in the top seven. They have won their past two games against the Dockers, both in Perth.
"It's going to be a big challenge, and one we're relishing. We need to beat these top sides if we want to get to where we need to be," Tuohy said.
The Blues would learn from how teams have beaten the Dockers this season, he said.
"They’re always going to be a good defensive side, given their coach," he said.
“They're just a good side. They've always had the talent and they've just seemed to really gel this year.
“It's just impossible to score goals against them, so that's going to be our biggest challenge. We'll need to straighten up and focus and make sure we take our chances."
Taking their chances in front of goal has been an issue for the Blues at times this season, particularly in their win over Gold Coast at Metricon Stadium on Saturday when they blazed 16.24, prompting Malthouse to observe that the phenomenon had become almost contagious.
"We work on our set shots every week, and our goalkicking, and it let us down at the weekend - there's no hiding that. But we'll work at it again and I've no doubt we've got the talent up forward to kick enough goals to win," Tuohy said.
A key to that is the versatile Lachie Henderson, who has kicked 11.5 in the past three games after being shifted forward.
"It's probably not a bad problem to have: someone who can play so well at both ends of the ground," Tuohy said of Henderson.
"He's probably getting a lot of attention lately, and fully deserved. I reckon he's the equal of any big swingman in the competition."
Ben Collins is a reporter for AFL Media. Follow him on Twitter: @AFL_BenCollins
