SharePoint Group - Site Owner (Full Control)

When a SharePoint site is created, by default 3 SharePoint groups are created

Site Owners - Full control

Site Members - Contribute

Site Visitors - Read

Below are the permissions you get when you are a Site Owner (Full Control)

List Permissions

Manage Lists - Create and delete lists, add or remove columns in a list, and add or remove public views of a list.

Override Check Out - Discard or check in a document which is checked out to another user.

Add Items - Add items to lists and add documents to document libraries.

Edit Items - Edit items in lists, edit documents in document libraries, and customize Web Part Pages in document libraries.

Delete Items - Delete items from a list and documents from a document library.

View Items - View items in lists and documents in document libraries.

Approve Items - Approve a minor version of a list item or document.

Open Items - View the source of documents with server-side file handlers.

View Versions - View past versions of a list item or document.

Delete Versions - Delete past versions of a list item or document.

Create Alerts - Create alerts.

View Application Pages - View forms, views, and application pages. Enumerate lists.

Site Permissions

Manage Permissions - Create and change permission levels on the Web site and assign permissions to users and groups.

View Web Analytics Data - View reports on Web site usage.

Create Subsites - Create subsites such as team sites, Meeting Workspace sites, and Document Workspace sites.

Manage Web Site - Grants the ability to perform all administration tasks for the Web site as well as manage content.

Add and Customize Pages - Add, change, or delete HTML pages or Web Part Pages, and edit the Web site using a Microsoft SharePoint Foundation-compatible editor.

Apply Themes and Borders - Apply a theme or borders to the entire Web site.

Apply Style Sheets - Apply a style sheet (.CSS file) to the Web site.

Create Groups - Create a group of users that can be used anywhere within the site collection.

Browse Directories - Enumerate files and folders in a Web site using SharePoint Designer and Web DAV interfaces.

View Pages - View pages in a Web site.

Enumerate Permissions - Enumerate permissions on the Web site, list, folder, document, or list item.

Browse User Information - View information about users of the Web site.

Manage Alerts - Manage alerts for all users of the Web site.

Use Remote Interfaces - Use SOAP, Web DAV, the Client Object Model or SharePoint Designer interfaces to access the Web site.

Use Client Integration Features - Use features which launch client applications. Without this permission, users will have to work on documents locally and upload their changes.

Open - Allows users to open a Web site, list, or folder in order to access items inside that container.

Edit Personal User Information - Allows a user to change his or her own user information, such as adding a picture.

Personal Permissions

Manage Personal Views - Create, change, and delete personal views of lists.

Add/Remove Personal Web Parts - Add or remove personal Web Parts on a Web Part Page.

Update Personal Web Parts - Update Web Parts to display personalized information.