Final answer:
Hormone receptors have two important functions: recognizing hormone molecules and initiating cellular responses, and mediating changes in target cells in the presence of hormones.
Step-by-step explanation:
Hormone receptors have two important functions. First, they recognize hormone molecules and initiate cellular responses. Second, they can mediate changes in target cells in the presence of hormones. These functions allow hormones to regulate various body processes and affect cell activities.