In my view, this is referring to the last "head" of this beast, which is the Roman Empire. Here is where it gets a bit interesting. There are seven "heads" that John sees when this "beast" comes up out of the sea. When Daniel saw this beast, it did not have seven heads, but it did have 10 toes. This specific beast now has seven heads and ten horns with a crown on each horn. Therefore, in my view, these seven heads all belong to the final beast, which is representative of the various stages that Rome went through as it began to grow into an empire until it will become the final, revived Roman Empire.
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Dr. Fred has written numerous books and articles that cover a wide-range of theological topics and he endeavors to present the study of God's Word in a clear fashion, helping the average layperson comprehend the great truths of Scripture.